Fiscal Uncertainty Mounting

Our economic risk ratings for the Dominican Republic have declined on the back greater uncertainty over the country's fiscal position going forward. After funding a socially-focused presidential re-election campaign with tax proceeds, President Leonel Fernandez's administration is sticking to its public spending binge. Government expenditures rose by 33.4% y-o-y during the first half of 2008, while revenues posted an increase of just 8.9% for the same period.

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