Economy May 24, 2022 | 7:47 am

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Dominican public debt rose to US$64.5B in IQ

Santo Domingo.- In the first quarter of this year, the consolidated public debt of the Dominican Republic increased again, this time 5.26 billion dollars compared to how it closed in 2021. However, it decreased from 62.6 to 60.2% of gross domestic product (GDP), according to the most recent report published by the General Directorate of Public Credit of the Ministry of Finance.

In the last quarter of last year, the country lowered the consolidated public debt to 59.2 billion dollars, and as of March 2022 it rose to 64.47 billion dollars, being its highest quarterly amount in the current government, which began on August 16, 2020, according to official figures.

The total consolidated debt of the Dominican Republic is divided into two segments: that of the commitments assumed by the central government with local or international creditors, among these bondholders, countries or multilateral organizations, called the Non-Financial Public Sector, and that of the debt issued by the Central Bank, which is managed by the Financial Public Sector.

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Paul Tierney
May 24, 2022 7:50 am

More debt equals more taxes. The middle class will be paying it.