Concerned about debt of PetroCaribe subsidie energy

Economist and Director of the Chamber of Commerce Domínico French, Henry Hebrard, expressed yesterday its concern at the alleged use of funds from the country's debt with Venezuela under the PetroCaribe Pact in subsidizing electricity.

Argues that PetroCaribe is the best blessing, but at the same time curse that has received Dominican Republic, because of this decision by the Venezuelan Government the largest beneficiary has been Dominican Republic, but as approaching US$ 2,000 billion.

Believes that although this amount is not a problem provided that those resources going to development, he believes that it must be sown in the field, in education, health and energy systems.

"Part of the problem of PetroCaribe is that we are using them to basically cover the subsidy on electricity and that is the worst use that could be given, and that worries me, indicated.

Argued that concerned because if there were problems with the feasibility of the u000a2011 budget, is not with what he observed in the budget for 2012, which was made on the basis of premicias that do not correspond with the reality of today's world, because it was felt that U.S. and income would grow, and that oil would not rise much.

Macro
Hebrard claims that his greatest concern on the macroeconomic side is the public debt, "which makes 40% of the income of the State can not use them to make its policy and that in the long run or the shortwave has social consequences, because it does have fewer resources for future investments in education, health and housing".

Speaking in the link program that produces David Toribio, Hebrard said that such behaviour is conspiring against the possibility of implementing the national development strategy. He said he feels a little bit of fear by the twist in the discussion on a comprehensive tax reform, because the State talks about income and entrepreneurship of u000aincome and expenses, when you have to see what assets should be the State and the level of debt.

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