The proposal was submitted to the National Assembly (Parliament) by the President of the Central Bank of Nicaragua (BCN), Ovidio Reyes, who highlighted that the country is moving toward an economy increasingly financed by its own resources and less dependent on external funding.
The official detailed that the resources allocated to poverty reduction programs and projects total 108,849.9 million córdobas—equivalent to approximately 2,972.1 million US dollars—representing 64.7 percent of total spending and 11.5 percent of the Gross Domestic Product (GDP).
Reyes noted that the budget proposal aligns with the Government’s economic policy and measures adopted to strengthen national financial capacity following the impact of the COVID-19 pandemic.
He also indicated that the plan includes resources to maintain subsidies for retirees on electricity and potable water services, as well as support mechanisms for transport fares and fuel prices.
During the presentation of the document to the President of Parliament, Gustavo Porras, and the First Secretary of the Board of Directors, Deputy Loria Raquel Dixon, the BCN head emphasized the importance of generating domestic resources to sustain economic activity.
For his part, Porras stated that the allocations and projections contained in the budget instrument are underpinned—as he put it—by the social stability and peace guaranteed by the Sandinista Government.
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