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Dominican Republic: Public debt soars to US$43.1B in first 9 months

Santo Domingo.- The debt level of the non-financial public sector (NFPS) —which includes government debt operations, except for the Central Bank— has soared to US$43.1 billion in the first nine months, or  54.8% of GDP.

Official data from the Ministry of Finance indicate that it’s an increase of US$7.1 billion compared to the end of last year, 19.9% more in nine months.

The consolidated debt as of September, which includes the commitments also assumed by the Central Bank, has yet to be published.

The coronavirus crisis has led the Dominican Government to issue much more debt than it had planned as a way to solve the sharp drop in tax collections and the rise in public spending on health.

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