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DFP 2009 - Caribbean Elections

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Maintain our relationship with other member countries of the Eastern<br />

Caribbean Currency Union (ECCU), to ensure the stability and<br />

soundness of the Eastern Caribbean (EC) dollar and its exchange value<br />

with the US dollar.<br />

Introduce a Venture Capital Fund to support innovation and business<br />

development<br />

PUBLIC FINANCE<br />

The DFP reasserts its commitment to prudent fiscal management and ensuring<br />

responsible management of public resources.<br />

Vision: Stable finances to meet the needs and aspirations of the<br />

Dominican people;<br />

Objective: To achieve sustainability in public finances, through stability<br />

in revenue generation; creating value for money in expenditure outlays,<br />

and prudent debt management.<br />

Key Policy Actions:<br />

Introduce new guidelines to ensure efficiency, fairness, accountability<br />

and transparency in public procurement and contract administration;<br />

<br />

Consolidate and reduce the taxes on the transfer of land to help young<br />

families and to encourage efficient use of this scarce resource for<br />

productive investments;<br />

Review the VAT to assess the impact on the various sectors of the<br />

economy<br />

<br />

<br />

<br />

Review the municipal property tax with a view of ensuring adequate<br />

revenues for local government authorities to deliver services to residents<br />

whilst minimizing the burden on low income earners;<br />

Review the entire tax incentives structure for investment with a view of<br />

assessing their effectiveness in inducing new investments;<br />

Review the tax incentives structure for local and foreign investment to<br />

determine its effectiveness in inducing new investments;<br />

SOCIAL SECTORS<br />

EDUCATION<br />

21

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