Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Dominican Ex-President Defends Tax Increase as Protests Continue

Nov. 14 (Bloomberg) -- Former Dominican Republic President Leonel Fernandez defended his government’s spending in a televised address to the nation as his successor struggles to quell violent protests over tax increases in the Caribbean nation.

In his first public address since the Aug. 16 inauguration of President Danilo Medina, Fernandez said a tax overhaul approved by Congress on Nov. 8 would generate additional revenue to fund education, health and security. The legislation increases the national sales tax to 18 percent from 16 percent and raises other levies in an attempt to trim the country’s fiscal deficit, which the government forecasts will climb to 8 percent of gross domestic product by year-end.

Protesters rallied in Santo Domingo last night to “demonstrate against impunity and corruption,” Maribel Hernandez of the Fiscal Justice Movement said in an e-mailed statement. A series of protests in the country last week left two people dead.

The Dominican Republic’s economy averaged annual economic growth of 7 percent under Fernandez. His wife, Margarita Cedeno, is Medina’s vice president.

To contact the reporter on this story: Adam Williams in San Jose, Costa Rica at awilliams111@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.