Costa Rican lawmakers approve national budget for 2014

October 6, 2014

The Legislative Assembly on Wednesday passed in a second and final round of voting the 2014 national budget for ₡6.6 trillion ($13.1 billion).

The amount is equivalent to 24.7 percent of gross domestic product (GDP) – estimated at $45.1 billion in 2013 – and represents a 3.1 percent increase over the 2013 budget. Approved at ₡6.4 trillion, that 2013 budget was 7.5 percent higher than that in 2012.

A majority of 27 lawmakers voted in favor while 19 voted against. Costa Rica’s Constitution requires lawmakers to approve the national budget by Nov. 30.

Lawmakers from the Libertarian Movement Party and the Citizen Action Party voted against, taking issue with how the budget stipulates that 42.7 percent of government spending next year will be financed by loans.

Social Christian Unity Party representatives also voted against the budget because the amount allocated for education will be of 7.2 percent of GDP, while the country’s Constitution establishes that it should be at least 8 percent.

Although it did not meet the 8 percent requirement, education accounts for the largest chunk of the spending, as the budget assigned 29.1 percent to that area, followed by 10.6 percent for public sector pensions, 5.3 percent for the Judicial Branch, 5.2 percent for the Labor Ministry and 4.5 percent for the Public Works and Transport Ministry.

The spending plan allocates some 50 percent of the budget for social sectors including education, health, housing, culture and recreation.

Facebook Comments

You may be interested

Buchón cantina: Spritz cocktails to dine for
Dining and Nightlife
613 views
Dining and Nightlife
613 views

Buchón cantina: Spritz cocktails to dine for

Natalia Díaz - October 18, 2018

Buchón was the first place I tasted the Aperol Spritz, months before it became fashionable around San José. In fact,…

Tico Times Shade: What does ‘middle class’ mean in Costa Rica?
Tico Times Shade
1998 views
Tico Times Shade
1998 views

Tico Times Shade: What does ‘middle class’ mean in Costa Rica?

Alejandro Zúñiga - October 18, 2018

It’s not often The Tico Times writes an explainer about basic Costa Rican daily living that’s equally surprising to a…

Costa Rica grants asylum to Nicaraguan activist Alvaro Leiva
News
742 views
News
742 views

Costa Rica grants asylum to Nicaraguan activist Alvaro Leiva

AFP - October 18, 2018

Costa Rica granted the Nicaraguan human rights activist Alvaro Leiva political asylum last week. Leiva is the secretary of the…