Santo Domingo.- Despite the government's repeated argument that the public debt, now at 50% of GDP), isn't cause for concern, economists and business leaders disagree.
For the national young business leaders grouped in ANJE the public debt has already reached unsustainable levels.
The Dominican Republic has the need to reach a fiscal pact in a timely manner in the face of a situation of economic stability like the current one and not at the edge of a fiscal precipice, that could trigger one more "paquetazo," the Dominican moniker for a tax increase.
The ANJE said the tax structure should be simplified by eliminating distortions caused by the multiple tax patches that generate inequality among taxpayers. "In this regard, the report published by IMF staff on February 13 has been stated in its comments, stating that fiscal consolidation should be based on a tax base that simplifies the tax system and makes it more equitable."
During an event hosted by ANJE, its president Eugene Rault Grullón said they expect the country to forge a fiscal pact by yearend 2017.