Dominican Republic: The Dominican Republic’s finance minister, Donald Guerrero Ortiz, has reported that public finances ended 2017 with a positive balance. Guerrero noted that the positive financial results came on the back of a 11% year-on-year increase in the tax revenue, which last year reached RD$537.2bn (US$10.8bn); while overall public spending only increased by 0.8% of GDP to reach RD$653.88bn. Guerrero said the increase in the tax take helped to reduce the primary fiscal deficit to 0.2% of GDP last year and the non-financial public debt to US$29.54bn or 40% of GDP. Noting that this level of public debt is below the Latin American average, Guerrero said that the Dominican Republic is maintaining a sustainable and responsible level of debt. This year the finance ministry is projecting that the government will post a non-financial fiscal surplus of 1.2% of GDP and an overall fiscal deficit of 2.2% of GDP.
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