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Bill to slash $114 million from 2015 budget will head to Legislative Assembly

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April 15th, 2015 (InsideCostaRica.com) A bill that would slash more than ¢60 billion (~$114 million USD) from the government’s regular 2015 budget is ready to be sent for vote before the plenary of Costa Rica’s Legislative Assembly next week.

 

Lawmakers have been moving to make cuts to public spending this year since late 2014, in part due to pressure from ratings agencies like Moody’s, Fitch and Standard & Poor’s.

 

In September 2014, Moody’s cut Costa Rica’s credit rating to ‘junk’ status, lowering the country’s rating from Baa3 to Ba1, based on the country’s widening deficit and large debt burden.

 

More than 60% of the budget cuts will come from the education, health, and labor ministries, as well as the judiciary and the Supreme Electoral Tribunal (TSE), according to a calculation by the daily La Nacion.

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  • Yeims

    But we ain’t gonna touch those fat salaries and perks of those fat politicians, right?

  • Hardy Hansen

    How much is to be “slashed” from the executive salaries and perks??? Yeah right…

  • Ken Morris

    I agree with Hardy and Yeims. The sad thing is that education, health, and labor are all areas that need more money to provide their necessary services, but that in education and health (not sure about labor) the money they now receive is disproportionately spent on the dysfunctional top. The key is to cut the wasted expenditures and then to increase the expenditures in needed areas, but odds are the cuts will fall on the needed expenditures.

  • disgusted

    The word SLASH aka: Barra. Funny how they use words here in CR when referring to budget cuts. I think it mostly all a facade. How about every government worker making more than let say 2 million colones have a 30% cut in pay then the word slash/barra would be appropriate all smoke and mirror here. Right President Solis?

  • prdatki

    First cut the pay 50 % to all Elected and Appointed officials, cut benefits 100% , audit the use off Government cars and the miss use of Government property.Quit paying the Church a Million dollars a year and tax them!

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