Budget Adjustment in Guatemala Due to Fiscal Gap

A judicial suspension of tax obligations, a projected deficit of $450 million and a loan approval have forced the government to tighten its belt.

Tuesday, February 5, 2013

Elperiodico.com.gt reports that "Public bodies demanded $3.6 billion, but only received $2.285 to cover their operating costs."

With this assignment made by the Ministry of Finance only salaries and operating costs can be covered, estimated Carlos Barreda, deputy of the Unidad Nacional de la Esperanza (UNE) party believing that there is "a real suppression of public spending" .

The lack of approval of loans to finance the 2013 budget, the suspension of tax reform items by the Constitutional Court (CC), and a projected gap of Q3, 5 billion in revenue explain the initial containment of expenditure according Barreda.



More on this topic

Costa Rica: There is No Free Lunch

August 2017

After recognizing the serious liquidity problems faced, the government has announced it will borrow another $1 billion for a hearty lunch that others will pay for tomorrow.

The $1 billion that the Central Bank of Costa Rica (BCCR) has been negotiating since May with the Latin American Reserve Fund (FLAR) to strengthen its reserves will arrive in October of this year, according to the BCCR authorities. 

IMF: Time is running out for Costa Rica

March 2016

The institution is once again emphasizing more efficient public spending and making cuts before a fiscal adjustment comes into force, in a form that is "draconian and with emergency measures".

Making cuts and improving efficiency in public spending is once again the main recommendation of the International Monetary Fund.

Costa Rica: Every Day the Deficit Grows by $6.81 million

January 2014

From January to November 2013, the fiscal deficit reached $2.270 billion, 4.6% of the national production, 25% more than that accumulated up to November 2012.

Market Pulse Blog Aldesa:

Costa Rica: How much does the government borrow per day?

Every day operations made by the Government, and therefore by all Costa Ricans, add up to an additional ₡1.796 million of new debt.

Panama's Fiscal Deficit

November 2012

The projected deficit in the state budget approved for 2013 is close to the legal limit, and is causing concern in business sectors.

From the Panamanian Association of Business Executives (APEDE):

APEDE concerned about budget deficit in 2013

The Panamanian Association of Business Executives is concerned about the projected budget deficit for 2013, according to figures presented by the Ministry of Finance this week to its membership.

 close (x)

Receive more news about Public Finance

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Gluten-free food business for sale

Operating Company dedicated to the manufacture of gluten-free and sugar-free products, OHNE brand.
The OHNE brand has 8 product lines: square bread, sweet...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Nov 24)
Brent Crude Oil
46.280
Coffee "C"
117.05
Gold
1,825
Silver
23.525