Dominican Government, Congress controlled by official party to discuss DR-CAFTA, Tax Reform

http://www.dominicantoday.com 30/10/06

Santo Domingo.- Dominican authorities will call for a meeting this week, with legislators from the governing Liberation Party, to coordinate approval of legislation required for implementing the Free Trade Agreement with the United States and Central America (DR-CAFTA), and on the proposed new tax reform that would be submitted for Congressional consideration in the forthcoming weeks.

Technical minister Temistocles Montas reiterated that president George W. Bush promised that the Dominican Republic would be incorporated onto the DR-CAFTA 15-30 days following approval of legislation submitted a week ago to the National Congress.

While Fernandez was meeting with Bush at the Oval Office, the U.S. President called the office in charge of monitoring progress of the trade accord, to instruct that processing be expedited, so as to avoid delays.

As to the new tax reform, authorities expect to gain some 25 billion additional pesos so that a projected surplus thereof be available to reduce foreign debt, situating it at sustainable levels for the national economy.

The budget this year is expected to approximate 225 billion pesos.

Danilo Medina and Temistocles Montas would coordinate the meetings with congresspersons. Both were part of the official team that went along with Fernandez to Washington.