Hacienda announced on Friday the Ordinary and Extraordinary Budget plan for 2013, which is 6.4 billion colones (about $12.8 million USD), of which 43% will be financed with internal debt.
The budget showed an increase of 7.7%, substantially lower than the past two years, – where this year the budget grew by 13% and by 9% in 2011.
The Treasury Department minister, Edgar Ayales, stated that all institutions suffered budget cutbacks.
Ayales said that revenues this year were 3.6 billion colones, an 11.7% increase in regards to the amount certified by the treasury inspector’s office.
Legislators have until November 30th to submit changes to the budget.
Readers should note that this budget only includes costs and programs of the three branches of government.
The Legislature would receive a budget of 30 billion colones
Editors note: This article has been edited to redact some errors made in the interpretation of the government release. We regret the error.