No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeArchiveLawmakers approve 2013 national budget in first-round debate

Lawmakers approve 2013 national budget in first-round debate

Costa Rica’s Legislative Assembly approved in a first round of debate the ₡6.4 trillion ($12.8 billion) national budget bill in a 29-15 vote.

Fifty-seven percent of the budget will be financed by taxes and regular income, while 43 percent will be paid with debt.

Compared to this year, the 2013 budget is 2.6 percent bigger.

The vote came a few hours after the Constitutional Chamber of the Supreme Court, or Sala IV, ruled unanimously that the earmarking of ₡3.6 billion ($7.2 million) for municipalities is unconstitutional because “it did not detail the specific destination of funds as required by law.”

Those funds will be frozen while the Finance Ministry corrects the error in the next national budget revision.

Lawmakers from the Citizen Action Party, Libertarian Movement Party and Broad Front Party had asked to adjust the budget after the Sala IV’s ruling, but the vote was held shortly after 7 p.m.

A second round of debate will be held on Thursday.

Trending Now

Costa Rica Rejects U.S. Bid to Extradite Caribbean Drug Boss

The Criminal Court of Limón turned down a U.S. request to extradite Gilberth Hernán Bell Fernández, known as 'Macho Coca,' on Monday afternoon. Judge...

Oil Prices Hits Highest Since 2024 as Costa Ricans Brace for Rising Gas Bills

Oil prices kept surging today as markets fear the conflict with Iran will drag on, potentially causing major supply disruptions. The Strait of Hormuz...

Andreeva’s Indian Wells Defense Ends in Dramatic Loss

Mirra Andreeva's title defense at Indian Wells ended in frustration during the third round on Monday. Katerina Siniakova defeated the Russian 4-6, 7-6 (5),...

Chaves Says He Would Run for President Again If Costa Rica Needs Him

President Rodrigo Chaves said he has not ruled out running for the presidency again once his current term ends. In a recent interview with...

Trump Brings Latin American Conservative Leaders to Florida Summit

US President Donald Trump, currently waging a war with Iran, hosts a dozen right-wing leaders from Latin America and the Caribbean on Saturday to...

Interpol Arrests 60 Suspected Child Predators in Central America

Law enforcement agencies in nine countries arrested 60 suspects accused of child sexual offences and identified 65 child victims during a coordinated international operation....
L. Arias
L. Arias
Reporter | The Tico Times |
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Travel

Latest News from Costa Rica