$3.6 billion will be used for social investment, and $1.35 billion for paying sovereign debt.
Newspaper prensa.com published comments by Alberto Vallarino, Economy Minister: "[the budget] ... was conceived within conservative expectations: 3.5% economic growth, 3% inflation and 5% unemployment".
The budget approved by the National Assembly is 10.8% higher than the current one.
The projected budget deficit for 2011 is $ 268.2 million which will be covered with grants and loans.
"The 2011 budget was prepared on a 3% forecast for growth of the Nicaraguan economy, inflation at 6.7 percent, a slide currency slide against the dollar of 5 percent and an average price of a oil barrel at $ 78.8 oil," Efe reported.
The $13 billion budget presented to the General Assembly is almost $2.5 billion more than in 2010.
The article in Laestrella.com.pa reports that Panama's Minister for Economy and Finance, Alberto Vallarino, commented that, "of the $13 billion state budget, almost $6 billion (46% of the total) will go towards social welfare projects including the National Development Convention and fund sectors such as health, education, housing, transport, tourism as well as small and medium sized businesses".
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