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Despite cuts, Costa Rican budget will grow

Monday, August 27, 2018

Rocío Aguilar, the Costa Rican Finance minister has announced that the nation's budget will be reduced next year because, for the first time ever, state employees will face reduced salaries.

Even so, however, she will not be able to achieve a balanced budget because of increased interest payments on the national debt.

The payments due are 17 percent more for this year. Accordingly, public spending for next year will be 15 percent higher.