• Costa Rica Travel Insurance
  • Costa Rica Coffee Guide

Costa Rican lawmakers approve national budget for 2014

October 6, 2014

The Legislative Assembly on Wednesday passed in a second and final round of voting the 2014 national budget for ₡6.6 trillion ($13.1 billion).

The amount is equivalent to 24.7 percent of gross domestic product (GDP) – estimated at $45.1 billion in 2013 – and represents a 3.1 percent increase over the 2013 budget. Approved at ₡6.4 trillion, that 2013 budget was 7.5 percent higher than that in 2012.

A majority of 27 lawmakers voted in favor while 19 voted against. Costa Rica’s Constitution requires lawmakers to approve the national budget by Nov. 30.

Lawmakers from the Libertarian Movement Party and the Citizen Action Party voted against, taking issue with how the budget stipulates that 42.7 percent of government spending next year will be financed by loans.

Social Christian Unity Party representatives also voted against the budget because the amount allocated for education will be of 7.2 percent of GDP, while the country’s Constitution establishes that it should be at least 8 percent.

Although it did not meet the 8 percent requirement, education accounts for the largest chunk of the spending, as the budget assigned 29.1 percent to that area, followed by 10.6 percent for public sector pensions, 5.3 percent for the Judicial Branch, 5.2 percent for the Labor Ministry and 4.5 percent for the Public Works and Transport Ministry.

The spending plan allocates some 50 percent of the budget for social sectors including education, health, housing, culture and recreation.

You may be interested

Costa Rica coronavirus updates for Tuesday, August 11
Costa Rica
21881 views
Costa Rica
21881 views

Costa Rica coronavirus updates for Tuesday, August 11

Alejandro Zúñiga - August 11, 2020

Costa Rica announced 11 new coronavirus-related deaths over the past day for a total of 255, according to official data…

Costa Rica to face Mexico at Estadio Azteca in September
Costa Rica
3088 views
Costa Rica
3088 views

Costa Rica to face Mexico at Estadio Azteca in September

Alejandro Zúñiga - August 11, 2020

The Costa Rica men's national soccer team will face Mexico next month in an international friendly at the venerable Estadio…

Guanacaste Tourism Chamber asks for Costa Rica to allow U.S. tourism
Costa Rica
20782 views
Costa Rica
20782 views

Guanacaste Tourism Chamber asks for Costa Rica to allow U.S. tourism

Alejandro Zúñiga - August 11, 2020

In an open letter to the government, the Guanacaste Tourism Chamber (CATURGUA) has asked that Costa Rica welcome tourists from…