The Minister of Finance and Economy, Magín Díaz, stated this Tuesday that more than 90% of the revenue estimated in the Bill on Economic Pro-growth Measures, Fiscal Simplification and Mitigation of the International Crisis will come from the richest 1% of the population.
Díaz maintained that the proposal sent by the Executive Branch to the National Congress was designed with criteria of equity, fiscal responsibility, and social protection, with the aim of preserving the country’s economic stability without burdening the middle-class sectors, micro, small, and medium-sized enterprises, or the vulnerable population.
“90% of the estimated revenue, which is between RD$40 billion and RD$50 billion, will come from the richest 1% of the population,” the official explained, noting that this composition shows that the project does not shift the fiscal burden onto the middle or vulnerable sectors.
During a meeting with the legislators who make up the bicameral commission studying the initiative, Díaz explained in detail the scope of the proposed measures and praised the technical work carried out to formulate a “reasonable and equitable” proposal.
“We come to Congress with a serious, well-thought-out, and feasible proposal in the current context. The important thing is to preserve three principles: economic stability, tax equity, and responsibility in the use of public resources.
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That is our commitment and we ask society to be a part of it, because economic stability benefits us all,” he expressed to the congressmen.
The minister emphasized that the project does not contemplate touching the ITBIS nor affecting MSMEs. He indicated that the measures seek to strengthen the State’s capacity to contain the fiscal deficit, sustain subsidies, and protect the population against the effects of the current international context.
Another central axis of his intervention was transparency in the use of resources. Díaz announced that the Executive Branch will accompany the proposal with an accountability mechanism that allows citizens to know the performance of the measures, their fiscal impact, and the destination of the funds collected.
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“The Executive Branch will accompany the proposal with an accountability scheme so that citizens can know the performance of the measures, their fiscal impact, and the destination of the collected resources,” he pointed out.
The meeting was held at the headquarters of the Senate of the Republic and included the participation of senators and deputies who are members of the bicameral commission, led by Senator Pedro Catrain.
During the session, the minister addressed concerns from legislators of both opposition and ruling parties.
During the meeting, the proposals of executives from the Association of Industries of the Dominican Republic were also heard, as they presented their vision regarding the legislative initiative sent to Congress last Friday by President Luis Abinader.
On this point, Díaz reiterated the willingness for dialogue that, as he stated, has accompanied the entire process of drafting the project and that will continue during the legislative discussion stage.
“The Ministry of Finance and Economy, as the technical body responsible for the design of the proposal, will accompany the legislative debate with clear information and verifiable data,” he concluded.
