Local July 2, 2012 | 8:50 am

RD$71.5B boost in Budget faces quick approval

Santo Domingo.- Despite hurdles in the debates over the Supplementary Budget bill, the Congressional commission is slated to meet today or tomorrow and submit the final draft to the full Senate floor for quick approval Wednesday.

The obstacles with the Executive Branch’s Supplementary Budget became evident last week when the Commission questioned the State-owned electric utility (CDEEE) CEO Celso Marranzini’s request of a US$500 million bond for allocation to the sector.

Also questioned was the executive branch’s request for US$1.6 billion in loans for infrastructure.

The Commission did approve the Executive’s request to pay the Central Electoral Board’s RD$270.0 million debt with the Reservas bank and increased government spending for the current fiscal year from RD $ 51.3 billion to RD$71.5 billion.

Once approved, the bill would allocate around RD$ 19.2 billion to the National Treasury, the Public Health Ministry and the Executive.

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