As every year on September 1st, the National Budget will be presented in the Legislature, but this year it will take place even though a group of projects on fiscal reform are still waiting, after 8 months, for their passing.
The Legislators who must discuss and approve the Government income and expenditure for 2017 are the same that are postponing the decisions on the actions that the government is asking for in order to fight the growing fiscal deficit.
Minister of Finance and Vice President, Helio Fallas, drew attention on that issue, and recognized that the budget proposal doesn’t include any income that would come from projects such as the tax on public limited companies or the tax for the fight against fiscal fraud.
When asked about the communication between Finance and the Legislative Assembly, the minister said that they are always reminded of the need to pass the tax reform.
On Thursday, the report of the fiscal results was presented and it shows that the excess expenditure over the income amounted to 796,447 million colones, equivalent to 2.6% of the GDP.
To date, the Government debt goes beyond 13.4 billion colones.