• Costa Rica Travel Insurance
  • Costa Rica Coffee Guide

Costa Rican government presents national budget for 2014

October 6, 2014

Costa Rican Finance Minister Édgar Ayales on Sunday presented a draft of a $13.4 billion National Budget for 2014 to the Legislative Assembly. Lawmakers must approve the country’s budget before Nov.  30.

The budget proposal is 8 percent higher than that approved for 2013, and 42.7 percent would have to be financed with public debt. Total expenditures mean a ₡3.2 billion deficit.

“Revenues barely cover 57 percent of total expenditures, and that creates a fiscal deficit, despite all of the government’s efforts to cut expenses,” the Finance Ministry stated in a press release.

The proposed expenditure for next year “exceeds expected income in some 6.2 percent of national production,” the statement added.

The government’s proposal includes detailed descriptions on each expenditure in 30 categories, including those of every ministry, public agency and the Legislative Assembly.

It also includes all budget estimates for pension payments and public debt, among others.

The largest budget item proposal for the executive branch is for the Education Ministry, at nearly $4 billion, most of which (80 percent) would be spent on teachers’ salaries. That amount equals 7.2 percent of the gross national product for next year, which is short of the 8 percent established by Costa Rica’s Constitution for education spending.

Estimated spending for the Presidency Ministry, Casa Presidencial and other official offices for President Laura Chinchilla next year would total $33 million, mostly to pay wages for 412 employees, with 8.3 percent -or $2.7 million- being spent on communications and public relations.

Proposed expenditures for the Public Security Ministry would total $460 million, with 93 percent slotted for operating expenses and salaries for 16,264 employees – 14,560 who are police officers.

The draft budget must be evaluated and approved by the Legislative Assembly’s Finance Commission before being voted on by all 57 lawmakers in two separate rounds of voting.

You may be interested

Costa Rica coronavirus updates for Friday, December 4
Costa Rica
15832 views
Costa Rica
15832 views

Costa Rica coronavirus updates for Friday, December 4

Alejandro Zúñiga - December 4, 2020

Costa Rica suffered 42 new coronavirus-related deaths between Wednesday and Friday for a total of 1,773, according to official data…

One million Central Americans will have migrated by the end of 2020, says UNHCR
Costa Rica
5793 views
Costa Rica
5793 views

One million Central Americans will have migrated by the end of 2020, says UNHCR

AFP - December 4, 2020

Violence, socio-political instability and environmental crises that have affected the region in recent years will have caused one million Central…

Costa Rica still plans to negotiate with the IMF, Alvarado says
Costa Rica
1029 views
Costa Rica
1029 views

Costa Rica still plans to negotiate with the IMF, Alvarado says

Alejandro Zúñiga - December 4, 2020

President Carlos Alvarado still intends for Costa Rica to negotiate with the International Monetary Fund (IMF) to address the country's…