Economy October 7, 2020 | 7:20 am

Dominican Republic’s US$46.7B debt is 57.57% of GDP

Santo Domingo.- The Central Bank on Tue. reported that until June 2020 Dominican Republic’s consolidated public debt amounts to 57.57% of GDP, of which 32.2% corresponds to external debt and 25.3% to the internal one.

“There are always doubts about the true amount of the Dominican public debt, due to lack of rigor in the implementation of a transparent and unified methodology in its calculation, the reasons for which can be attributed to the inconsistencies to which political realism leads,” Diario Libre says.

What’s not in doubt is that the true amount of public debt must be paid by a single actor of Dominican society: taxpayers, citizens who pay taxes and who must be subject to public policies and projects, such as security, education, health or infrastructure.

The Finance Ministry’s Directorate of Public Credit (DGCP), estimates the debt of the non-financial public sector (NFPS) as of August was US$39.2 billion.

The consolidated debt -which brings together the commitments of the NFPS and the financial public sector- totals US$46.7 billion (57.57% of GDP), which includes the issuance of their certificates.