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Financial Affairs Commission approves 2016 budget with $400 million in additional spending

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ICR NEWS BRIEF

October 21st, 2015 (ICR News) With nine votes in favor and one against, the Financial Affairs Commission of Costa Rica’s Legislative Assembly approved on Tuesday the 2016 National Budget.

 

The government’s Budget Bill for 2016 increases government spending by some US $411 million compared to 2015, an increase of 2.8 percent.

 

Rep. Paulina Ramirez of the opposition PLN party said that the vote demonstrated “that we could reach agreement and consensus.”

 

The budget bill now heads to plenary and must be approved in both first and second debate.

 

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  • Ben

    Wonderful more debt on the books in Costa Rica i guess this is the norm in the world follow the US and Canada model lots of debt and no growth and bull shit unemployment numbers. Channel 7 said last night that Costa Rica has a 24% unemployment number and really in the US the unemployment number is 34%. More debt and no good paying jobs in the private sector thats the new model in the world for goverment. Get ready people the bubble is going to burst soon and shit will hit the fan in a scary way. Raise Taxes so honest people will have no money to eat is also the model in the world.

    • Yeims

      Not only no money to eat, but also no money for health and medical care. Also, the UN’s Codex Alimenticia is quite alive here in Costa Rica, and that is beginning to affect food prices and health supplements, just as promised.

  • costarick

    For me, it is clear that the IMF will have to intervene in some manner of mandatory supervision of the Costa Rica economy in the not too distant future. Get ready for the “Greece” experience.

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