DR1: Fernandez on Energy and Debt

President Leonel Fernandez spoke last Saturday about how energy and the national debt is limiting the government's ability to carry out social programs. As reported in Hoy, the President said that the government has to spend US$500 million a year on energy subsidies (both electricity and propane). He also expressed confidence that continued economic growth with economic stability would allow the government to increase spending on education and health. The President pointed out that the subsidies eat up more money that 17 of the state ministries. The President made his comments in reference to the report by the World Bank and the Inter-American Development Bank on poverty in the Dominican Republic, which pointed out that the country needed to invest heavily in health and education. The President put his spin on things by saying that more money on education did not necessarily mean a better product. He cited the fact that the US spends about US$70,000 per student and Korea only US$15,000, yet Korean student far out-pace US students on most tests.