fiscal consolidation

Santo Domingo.- The Minister of Finance and Economy, Magín Díaz, stated this Tuesday that more than 90% of the estimated revenue in the Bill on Measures for Economic Growth, Fiscal Simplification and Mitigation of the International Crisis will come from the richest 1% of the population. Díaz maintained that the proposal sent by the Executive Branch to the National Congress was designed with criteria of equity, fiscal responsibility and social protection, with the objective of preserving the cou…

(1) People – the first goal in RGC’s approach from Triangular, Rectangular and now Pentagonal strategy Recently, the Royal Government issued a circular on the preparation of the 2027-2029 budget strategy and 2027 (financial) management. The Radio France Internationale – RFI reported that the Royal Government of Cambodia plans to reduce spending by more than USD 170 million on education and health to be allocated to the national defense sector in 2027 […] The Ministry of Economy and Finance has …

Santo Domingo.- The Anti-Crisis Plan proposal presented last week by the Dominican Government contemplates measures aimed at protecting families, supporting those who produce and preserving the country's economic stability in the face of the challenges that the international crisis continues to generate. This was highlighted in his weekly summary by the director of the Directorate of Government Strategy and Communication (Diecom), Félix Reyna, who explained that the initiative will be submitted…

The Minister of Finance, Nogui Acosta received the Banker's Finance Minister of the Year 2024 award, which celebrates the officials who have best managed to stimulate growth and stabilize the economy. This award is granted after recognition of the progress that the country has made in updating its tax regulations. The removal of Costa Rica from the 'gray list', a sign of its commitment to comply with international tax standards. Also noteworthy is the fiscal consolidation plan that has reduced p…

Prime Minister Roosevelt Skerrit has announced plans to subsidize fuel prices to protect consumers from the continued rise in global oil prices linked to the ongoing US-Iran conflict. Addressing a press conference on Wednesday, the Prime Minister noted that since the start of the conflict, global crude oil prices have surged over 30%, pushing local consumer prices to $17.98 per gallon for gasoline (an increase of 20.2%) and $20.53 per gallon for diesel as of May 7, 2026. “To cushion the impact…

The Government of Iceland has approved anew industrial policythat sets out a long-term vision for economic growth, productivity, and competitiveness to 2035. The policy is intended to support sustainable economic development and create a more predictable environment for investment and business activity. It is accompanied by anaction plan for 2026–2027containing 35 measures across a range of sectors. Key priorities include strengthening energy supply and infrastructure, simplifying regulation a…

The Shs 72.376 trillion budget was delivered under the theme: “Full Monetization of the Ugandan Economy Through Commercial Agriculture, Industrialization, Expanding and Broadening Services, Digital Transformation and Market Access”. In fulfillment of Article 155(1) of the Constitution and on behalf of His Excellency the President, Hon. Matia Kasaija, the Minister of Finance, Planning and Economic Development, presented the Budget for the Financial Year 2025/26 to Ugandans as approved by Parliam…

• Strategic actions by ICE allow reduction approved by ARESEP. • Reduction benefits homes, commerce and industry. • Institute continues its efforts to provide sustainability to this measure and support the development of the country. January 8, 2025. January began with a reduction in electricity rates for the residential, commercial and industrial sectors, after the Public Services Regulatory Authority (ARESEP) approved - last December - the reduction requested by the Costa Rican Electricity Ins…

Santo Domingo.-The National Confederation of Agricultural Producers (Confenagro) positively valued the measures announced by the Government to promote economic growth and mitigate the impact of the international crisis. The entity considered that the approach of protecting economic and social stability, while preserving the country's productive capacities, constitutes a favorable signal for the sectors that generate jobs, investment and food sovereignty. Confenaggro highlighted the decision to…

Santo Domingo.– The Dominican Government will submit to the National Congress a bill with a new revenue strategy that seeks to raise between RD 40,000 and RD 50,000 million additionally in response to the pressures that the international crisis imposes on public finances, which, in addition, contains measures that strengthen micro and small businesses. During a press conference, the Minister of Finance and Economy, Magín Díaz, explained the scope of the initiative, conceived in four dimensions:…

Parliament has approved an extension of the Value Added Tax (VAT) exemption and import duty waivers on essential goods, following debate in Parliament on Friday, April 10, 2026. The measures will remain in place until the end of July 2026, as part of a targeted response to rising global economic pressures and their impact on the cost of living in Dominica. Addressing Parliament, Prime Minister Roosevelt Skerrit pointed to the ongoing geopolitical tensions involving the United States, Israel an…

Prime Minister Roosevelt Skerrit has announced that Government will return to Parliament on April 10, 2026 to seek approval to extend key fiscal measures aimed at easing the rising cost of food and essential goods. The removal of import duties and the zero-rating of select items under the Value Added Tax (VAT) regime, were first introduced during the 2025/2026 Budget to help cushion the impact of increasing global prices on Dominican consumers. According to the Prime Minister, the decision to …

Dominica’s economy continued to expand with positive performance across several key sectors in 2025, according to the International Monetary Fund (IMF). In its Staff Concluding Statement following consultation held in Dominica from March 16-26, the IMF reports that Real GDP growth accelerated to 4.5 percent, up from 3.5 percent in 2024, driven largely by a surge in tourism and sustained investment in major development projects. Visitor arrivals have rebounded, now standing 36 percent above pre-…

Fitch Ratings has upgraded Iceland’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘A+’ from ‘A’. The Outlook is Stable. Fitch Ratings has subsequently withdrawn all ratings. The upgrade reflects Iceland’s strengthened public finances and projected path of declining general government debt, underpinned by a strong political commitment to fiscal prudence and a return towards balanced budgets. Improving fiscal metrics and fiscal space were the key rating drivers. Prudent fiscal polic…

The Government of Dominica has announced a series of measures to protect citizens and the economy from the impact of conflict in the Middle East. Addressing a press conference on Wednesday, Prime Minister Roosevelt Skerrit emphasized that while Dominica is not directly threatened by war, the country will inevitably feel the economic ripple effects of the conflict. In response, the Government is rolling out targeted measures to cushion the impact on households and businesses. These include tem…

Prime Minister Roosevelt Skerrit  addressed Government’s fiscal management, providing clarity on Dominica’s economic position in an address to Parliament on Friday, April 10, 2026. His remarks followed the March 27 Article IV report of the International Monetary Fund. Citing the IMF’s assessment, Prime Minister Skerrit noted that real GDP growth accelerated to 4.5 percent in 2025, up from 3.5 percent in 2024, driven by strong tourism performance and sustained public investment. Inflation, he ad…

According to the 2025 central government financial annual report, 2025 was a year of economic stability. Despite increasing economic uncertainty in the world, the Dutch economy grew by 1.8%. The public finances also remained stable, with a budget deficit of 1.6% and a national debt of 44.4% of gross domestic product (GDP) – within the limits of European fiscal rules. Minister of Finance Eelco Heinen presented the annual report to the House of Representatives today, on Accountability Day. In doi…

Prime Minister Ali Faleh Al-Zaidi Chairs the Second Meeting of the Financial Stability Council •••••••••• Prime Minister Ali Faleh Al-Zaidi chaired today, Wednesday, the second meeting of the Financial Stability Council. The meeting discussed the general framework governing the Council’s work, mechanisms for implementing financial and monetary plans and strategies, and ways to stimulate various economic sectors and enhance their capacity to contribute to economic growth and job creation. The Pri…