Fiscal situation worries El Salvador officials

The government of El Salvador is proposing to increase the level of public investment.

Wednesday, July 23, 2008

The nation's fiscal situation is one of the biggest problems the new governemt will face, according to an economic analysis done by Carlos Acevedo, an economist from the United Nations Development Program (UNDP); Roberto Rubio, executive director of the National Foundation for Development; and economist Alex Segovia.
They indicate that the government expected to run a surplus of 532 million dollars this year, but now faces a deficit of 118 million dollars.
"The next government will be a government that administers debts," said Rubio. He added, however, that the problems could be solved if there are sufficient poltiical agreements.

More on this topic

For and Against the UNOPS

July 2015

While state officials are happy to delegate their responsibilities to the UN Office for Project Services, the Comptroller of Guatemala has declared that its services are "detrimental to the interests of the state".

EDITORIAL

The arrival in Central America of the UN Office for Project Services (UNOPS) was hailed by many as a factor that would allow the execution of public works which are very difficult or impossible for state institutions in the region to run, for various reasons ranging from lack of qualified personnel to simple negligence.

The Fall of Public Investment in Costa Rica

March 2013

In the past three years, the relationship between spending on infrastructure and equipment for public institutions and the country's national production, fell from 9.4% to 6.1%.

Nacion.com reports that "The Comptroller General's Office warned, in its report on the 2013 public budget, of a reduction facing planned investment in the non-financial public sector in respect to production, especially between 2010 to 2013. "

El Salvador Earmarks $770 million for Public Investment in 2012

March 2012

The government aims to implement 70% of the $1.1 billion budgeted for public investment.

The Government has budgeted $1.1 billion for public investment this year and hopes to implement at least 70% of that amount, said Guillermo Lopez Suarez, Special Coordinator for the monitoring and implementation of public investment and Minister of Agriculture.

El Salvador Fails to Invest Public Funds

June 2011

The Salvadoran government continues to exhibit low performance in investing public funds; so far it has only spent 60% of what was planned.

If this rate of investment is sustained, the government may not meet its promise to invest $1,200 million.

Carlos Acevedo, president of the Central Reserve Bank (BCR), told media that the investment goals are not being met at the expected rate, which should be 85%.

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