Economy May 26, 2021 | 7:49 am

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Dominican Republic’s public debt tops US$58.8B

Santo Domingo.- Dominican Republic’s consolidated public debt topped US$58.8 billion at the end of the first quarter of this year, equivalent to 70.5% of everything that the national economy produces in a year.

The rise, anticipated in the face of the tax revenue crisis caused by the pandemic, has been US$10 billion in the last twelve months, the largest year-on-year jump recorded in public debt in the country.

Data from the Public Credit Directorate of the Ministry of Finance indicate that a year ago, just when the pandemic was declared worldwide and borders were closed to stop the spread of the new coronavirus, the country already owed approximately US$48.1 billion

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