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.
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%.
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".
The government aims to implement 70% of the $1.1 billion budgeted for public investment.
The Salvadoran government continues to exhibit low performance in investing public funds; so far it has only spent 60% of what was planned.
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