{"id":9656,"date":"2023-07-12T20:47:49","date_gmt":"2023-07-12T20:47:49","guid":{"rendered":"https:\/\/dmklawyers.com\/?p=9656"},"modified":"2023-07-13T22:46:10","modified_gmt":"2023-07-13T22:46:10","slug":"finance-minister-highlights-achievements-in-the-reduction-of-public-debt","status":"publish","type":"post","link":"https:\/\/dmklawyers.com\/en\/finance-minister-highlights-achievements-in-the-reduction-of-public-debt\/","title":{"rendered":"Finance Minister highlights achievements in the reduction of public debt"},"content":{"rendered":"\n<p>The Minister of Finance, Jos\u00e9 Manuel -Jochi- Vicente, assured yesterday that in August 2020, the current Perremeist administration received the debt stock of the Non-Financial Public Sector (NFPS) equivalent to 49.7% of the gross domestic product (GDP). By June 2023, it has managed to reduce the balance to 44.8 %.<\/p>\n\n\n\n<p>The detail was published in a tweet from its account on the social network Twitter.<\/p>\n\n\n\n<p>&#8220;In the last two years, our country has been the fourth country that has most reduced its debt in relation to the size of the economy,&#8221; the minister said.<\/p>\n\n\n\n<p>The minister cited that the International Monetary Fund&#8217;s Article IV noted in June 2023 that the Dominican Republic &#8220;has a moderate risk of sovereign stress and debt is assessed as sustainable\u2026public debt is on a downward trajectory as the recovery\u2026has been strong and fiscal consolidation was brought forward in 2021\u2033.<\/p>\n\n\n\n<p>According to the most updated quarterly data published by the Public Credit General Directorate of the Ministry of Finance, the NFPS debt represented 56.6 % of GDP at the end of 2020 and had decreased to 44.9 % in March 2023.<\/p>\n\n\n\n<p>However, when looking at the debt in monetary terms, an increase was recorded. At the close of 2020, it amounted to US$44,622.3 million, and by March it had increased to US$54,942.9 million.<\/p>\n\n\n\n<p>In total, the consolidated public debt (which includes internal and external public debt) of the Dominican Republic rose from US$54,469.3 million in December 2020 to US$71,944.3 million as of March 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Minister of Finance, Jos\u00e9 Manuel -Jochi- Vicente, assured yesterday that in August 2020, the current Perremeist administration received the debt stock of the Non-Financial Public Sector (NFPS) equivalent to 49.7% of the gross domestic product (GDP). By June 2023,&#8230;<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[149],"tags":[],"class_list":["post-9656","post","type-post","status-publish","format-standard","hentry","category-investment-in-dr"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Finance Minister highlights achievements in the reduction of public debt - 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