Day: February 29, 2024

For the fourth consecutive year, Digepres delivers the Consolidated Budget Report and achieves historic coverage of 97% of institutions

The document demonstrates results, full compliance, effort, efficiency, transparency, and accountability on the part of management and the Government. For the first time, the Report also covers public financial entities. In accordance with the mandate and deadline established by Organic Budget Law No. 423-06, and for the fourth consecutive year, the General Directorate of Budget (DIGEPRES) delivered the 2024 Consolidated Budget Report for the Non-Financial Public Sector to the President of the Republic, Luis Abinader, and the National Congress for presentation to the Congress of the Republic on Monday, February 26. The document outlines the initial budgetary position of each area comprising the public sector, the result of a meticulous planning process aimed at optimizing the efficiency of public resource use and the consolidated budgetary variables by economic, functional, institutional, geographic, and expenditure classifications. The presentation of the report demonstrates results, full compliance, effort, efficiency, transparency, and accountability on the part of management and the government. The 2024 Consolidated Budget Report for the Non-Financial Public Sector was submitted to the President of the Republic, as required by law, to be delivered to the Congress of the Republic before the accountability session on Tuesday, February 27. It was also delivered to the Legislative Branch through the Senate and the Chamber of Deputies. It is worth noting that, in 2024, for the first time, according to the document, Article 74 of Organic Budget Law No. 423-06 was fully complied with by incorporating the budgets of public financial entities into the consolidation process. This means that the report does not only cover the non-financial public sector (NFPS) as in previous editions. Another aspect highlighted in the report is that, with the inclusion of public financial institutions, institutional coverage reaches 971% of existing institutions. Comparatively, last year's report included 492 institutions, while this year's includes 509. The report's budget indicates that consolidated public sector spending will reach RD$1,811,395.9 million in 2024, while revenues are estimated at RD$1,612,824.3 million. Regarding the approach to the difference between revenues and expenditures, it concludes by indicating a financial deficit of RD$198,571.6 million, or 2.71% of GDP. With respect to budgeted public spending, it is worth noting that the consolidation raises capital expenditure to RD$263,807.2 million, or 3.61% of GDP, of which RD$105,367.0 million (1.41% of GDP) will be allocated to public investment projects. The aforementioned capital expenditure increases by RD$$53,324.5 million or 25.3% in relation to the consolidation of the National General Government, previously indicated in Law No. 80-23 of the 2024 General State Budget. Likewise, public investment will be focused mainly on Santo Domingo with RD$$39,389.5 million (37.4% of the total); Multiprovincial with RD$$8,543.5 million (8.1%); Santiago with RD$$7,680.5 million (7.3%); National District with RD$$7,338.3 million (7.0%); Montecristi with RD$$3,829.3 million (3.6%). Constant Accountability and Adherence to the Law. Regarding methodology, the Consolidated Budget Report for the Non-Financial Public Sector is based on the 2014 Government Finance Statistics Manual of the International Monetary Fund (IMF) and international best practices from countries in the region in terms of consolidating budget statistics. Organic Budget Law for the Public Sector No. 423-06, of November 17, 2006, establishes that the General Directorate of Budget (DIGEPRES) and the President of the Republic must submit this report to the President of Congress for informational purposes before February 27 of each year, when the President is expected to deliver their State of the Nation Address to the National Congress. The Consolidated Budget Report for the Non-Financial Public Sector is available for reading and consultation on the institutional website www.Digepres.gob.do.