El Salvador: 2011 Budget is $4.5 Billion

Total 2011 budget is $ 4,503.5 million which includes payment of $653.5 million in Eurobonds due in 2011.

Tuesday, September 28, 2010

Fiscal policy objectives set for fiscal year 2011 are as follows:

Increasing tax revenues by raising tax burden from 14.0% to 14.7% of GDP in 2011, implementing measures aimed at strengthening legal frameworks and the efficiency of the tax system in order to combat tax evasion and smuggling.

Optimize and improve the efficiency of public resources.

Gradually increase levels of public investment considering the needs of social and manufacturing sectors, taking the level of public investment from 2.8% to 3.3% of GDP in 2011.

Reduce fiscal deficit of non-financial public sector from 4.8% to 3.5% of GDP in 2011.

Maintain debt levels at around 50%, in accordance with the country's payment capability.

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. "

Guatemala: Strategy to Increase Investment Unveiled

August 2010

The plan will enable the state to invest more resources in infrastructure, security, human capital and innovation.

The strategy presented by the Guatemala's "National Competitiveness Program" (Pronacom), suggests modifying the country's tax on income (ISR in Spanish) so that more individuals are eligible, as well as bring into force the so-called anti-evasion law (currently in congress).

Fiscal situation worries El Salvador officials

July 2008

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

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.

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