Connect with us

Dominican Republic

Govt. must borrow to pay US$463.5M electric subsidy

Published

on


Santo Domingo.- Next year the government will borrow to pay the electric subsidy, which is projected at RD$24.1 billion (US$463.5 million).

The funds for transfers to the Dominican Corporation of State Electric Utility (CDEEE) for this concept will come from global bond issues, as indicated in the bill for the 2020Budget.

In recent years, the government has used borrowing to pay part of the electricity subsidy, but this would be the first time since 2013 that the Executive plans to completely cover it with external credits, according to official documents.

For this year the government estimated a subsidy of about RD$28.7 billion, an amount that a third has been financed with resources from debt.

Rising oil prices means that the government should direct more resources to cover the subsidy, which last year had been RD$19.1 billion.





Source: Source link

Continue Reading

Dominican Republic

Casa de Campo’s Marina gets a convention center

Published

on

By



La Romana.- President Danilo Medina on Thursday inaugurated  the Marina Riverside Center, an event and convention center located in La Marina de Casa de Campo, in La Romana.

The center overlooking the Chavón River and the Caribbean Sea, has all the facilities and technical specifications to organize any type of celebration, in addition to having the support of world class services offered by Casa de Campo.

Andrés Pichardo Rosenberg, president of Casa de Campo Resort & Villas, highlighted in his speech that the inauguration of Marina Riverside Center is added to the numerous projects carried out in the last two years, which in total have reached investments of about 25 million dollars.

“Among the achievements we can list is the new Advanced Technology Center for golf practice, a Beach club, room remodeling, opening of new restaurants, and the creation of two family pools at Playa Minitas.”





Source: Source link

Continue Reading

Dominican Republic

Air quality deteriorates progressively, ecologists warn

Published

on

By


Photo Hoy.com.do. File

Santiago.- Today Thursday marks World Pure Air Day, for which the Cibao Ecological Society (Soeci) regrets the Dominican Republic’s progressive deterioration in air quality.

“In our country, the commemoration of this day surprises us immersed in a great progressive deterioration of air quality that threatens to cause our vital system to collapse as a result of misguided actions and decisions and the indifference that constitutes the worst human ignominy that seems not to concern even the most sensitive sectors of the Dominican population,” says Soeci in a statement.

The prominent environmentalists propose that to solve the problem it’s necessary for governments, companies and civil society to join forces to reduce CO2 emissions.





Source: Source link

Continue Reading

Dominican Republic

Ruling party presidential candidate wants probe into US$217.0M in contracts

Published

on

By


Santo Domingo.- Ruling party (PLD) presidential candidate Gonzalo Castillo, on Thursday requested that the General Directorate of Government Ethics and Integrity investigate him.

The former Minister of Public Works wants to be investigate after allegations by the journalist Alicia Ortega, that the contract with 38 companies for a total RD$11.5 billion (US$217 million) were assigned without tenders.

“This request is made with full awareness of the responsibility and commitment with which we assume and exercise the function of Minister of Public Works and Communications in the period August 2012 July 2019, under which all our actions adhered to the legal norms and procedures in force in our country, among them, specifically, those related to public procurement and contracting,” Castillo said.





Source: Source link

Continue Reading

Trending