No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeArchive2005 National Budget Gets Preliminary Approval

2005 National Budget Gets Preliminary Approval

THE Legislative Assembly approvedthe 2005 national budget in first debateMonday after only one week of discussion,a record in the history of theassembly, the daily La Nación reported.Of 43 legislators present, 27 voted infavor of the budget, with 16 opposed.To be final, the budget must beapproved in a second vote, expected totake place next Thursday.The $2.63 billion budget, which wasoriginally presented to the assembly bythe Finance Minister on Sept. 1 (TT, Sept.3) and spent nearly two months in theassembly’s Finance Committee, inspiredintense debate between legislators and theMinistry of Finance.The original proposal cut funding togovernment programs in order to redirectmore funds toward interest payments onthe national debt. Opponents claimed thecuts were too large, and the assembly’sFinance Committee redirected ¢86 billion($191 million) away from interest paymentson the debt (TT, Oct. 29).The assembly began discussion of therevised budget Nov. 1, with Nov. 30 asthe deadline for its approval.According to La Nación, legislatorsmoved quickly on the budget vote tosooner discuss a legislative reform billunder consideration. The reform wouldpermit that certain projects receive specialconsideration in the assembly, such asshorter voting deadlines.Proponents of the reform intend toapply the fast-track process to thePermanent Fiscal Reform Package that theassembly has been debating for nearlythree years.Assembly President GerardoGonzález has said he hopes to have thereform approved before Dec. 1, the dailyreported.Even if it is finalized next week, the2005 budget’s future remains unclear.Last month, Finance Minister FedericoCarrillo told The Tico Times through hispress officer, Fabiola Martínez, that hewould not support the redirection of fundsaway from interest payments on the debt,and that the assembly’s budget is a recommendationfor the Finance Ministry, not amandate (TT, Oct. 29).

Trending Now

Costa Rica Tourism Crisis as 22,000 Jobs are Lost in Downturn

Costa Rica's tourism industry faces a sharp downturn, with roughly 22,000 jobs lost in the past year. This drop hits hard in coastal and...

Viral Video Shows Chimpanzee Smoking at Chinese Zoo

A video showing a chimpanzee smoking a cigarette at a zoo in southern China has spread rapidly online, raising concerns about animal welfare and...

Update: Costa Rica’s Route 32 Reopens – Again!

The Ministry of Public Works and Transportation (MOPT) reported that Route 32 in Zurquí has reopened. This vital road, the main connection between the...

Teams Set for 2026 World Cup Draw as Qualification Wraps Up

With the 2026 FIFA World Cup group stage draw scheduled for early December, football fans across the Americas turn their attention to the 42...

Maduro Dances Defiantly Amid US Threats in Venezuela

Venezuelan President Nicolás Maduro took to the stage at the Miraflores presidential palace during a Student Day march, where he danced to a remix...

How Latin America Is Adapting to Trump’s New Pressure

Latin America is navigating a minefield of economic and military threats following Donald Trump’s return to the White House. Some leaders have pushed back,...
Avatar
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica