“Magín Díaz warns public finance deficit will require a “greater pact” in the country”

Santo Domingo. – The Minister of Finance and Economy, Magín Díaz, warned that the growing deficit in the Dominican Republic’s public finances will force society and the various political and economic sectors to reach a consensus on a “larger pact” that will allow the country to face its fiscal challenges.

The official pointed out that the situation of public accounts requires a comprehensive approach, due to the pressures the State faces to maintain the balance between revenue, public spending, and social commitments, in an still uncertain international context.

Díaz has reiterated on several occasions that the country must move towards mechanisms of greater fiscal sustainability, because traditional administrative measures would not be sufficient to close the existing gaps in the national budget.

Fiscal sustainability warning

The minister explained that the projected deficit level for the coming years represents a significant challenge for macroeconomic stability, which is why he considers it necessary to expand the national dialogue to build long-term agreements.

In that sense, he maintained that without a broader consensus among the productive, political, and social sectors, it will be difficult to implement structural reforms that allow for guaranteeing the sustainability of public finances.

Call for national consensus

Magín Díaz insisted that the country needs a more collaborative approach to address the fiscal situation, which would imply an agreement that transcends governments and political cycles, with the goal of ensuring economic stability and the State’s capacity to invest in priority areas.

The minister has stated in other interventions that the Government seeks to maintain macroeconomic stability, while acknowledging that pressure on public spending and revenue limits the room for maneuver without broader reforms or agreements.

Economic context

The official’s statements come amid debates over the country’s fiscal sustainability and the need for structural adjustments to contain the deficit, improve spending efficiency, and expand the State’s revenue base, without affecting economic stability or growth.