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Ortega slashes this year's Nicaraguan budget

Friday, August 10, 2018


Daniel Ortega, the Nicaraguan president, has sent the National Assembly a proposal to slash the nation's budget for this year to $160 million, a 6.8 percent reduction, because of the economic and social crisis that has been underway for more than three months.

Ortega said that external financing has been cut by $126 million. The economic growth forecast has been cut to 1 percent from 4.9 percent.
Meanwhile, the OAS has announced the countries that form the working group on Nicaragua which Ortega has rejected. They are Argentina,

Brazil, Canada, Chile, Colombia, Costa Rica, Ecuador, the United States, Guyana, Mexico, Panama and Peru.