Request to Reduce Public Spending in Nicaragua
Business leaders agree with a recommendation from the International Monetary Fund that the Government should rationalize government expenditure, especially subsidies.
Friday, July 20, 2012
Commenting on the issue Jose Adan Aguirre, president of the Superior Council of Private Enterprise (COSEP), said, "The private sector shared with the IMF that the government needs to control spending."
The severity of the fiscal crisis in Honduras has forced a package that includes spending cuts in the 2012 budget of $61 million and an 11% reduction on salaries over $3,500.
The Ministry of Finance has announced that in the next few days actions will be taken by the Government to enact contingency measures in public spending,
A mission from the IMF asked the Honduran government of President Manuel Zelaya to control its spending on salaries for officials and to increase social investment.
Costa Rica's government announced the measures it intends to implement in order to deal with growing government spending and improve public finances.
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