El Salvador President Nayib Bukele Announces Balanced Budget for 2025

According to Mars Finance, El Salvador President Nayib Bukele is expected to submit a government budget for 2025 that will not include a planned deficit.

Speaking on the occasion of El Salvador’s 203rd anniversary of independence, Bukele stated, “I announce that on September 30th, we will submit to the Legislative Assembly the first fully-funded budget in decades, without borrowing a single cent for current spending. El Salvador’s spending will no longer exceed its annual output. We won’t even borrow money to pay interest on the debt we inherited. We will pay it back with our own production.”

As reported by El Salvador's daily newspaper, El Diario de El Salvador, Finance Minister Jerson Posada elaborated, “This will be the first time in decades that the country will not issue a single penny in debt, neither local nor foreign, in its budget.”

Original link: https://www.coindesk.com/policy/2024/09/16/el-salvador-president-nayib-bukele...