At the end of third quarter the fiscal deficit as a percentage of GDP decreased from 4.6% in the previous year to 1.8%, while during 2015 current expenditures increased by 5%.
From a statement issued by the Ministry of Economy and Finance (MEF):
– MEF presents Fiscal Third Quarter Results
– NFPS deficit was reduced from 4.6% to 1.8% of GDP.
The Minister of Economy and Finance, Dulcidio De La Guardia, presented today at a press conference the fiscal balance of the nonfinancial public sector (NFPS) and the Central Government for the Third Quarter of 2015.
Total revenues of the NFPS to September 2015 exceeded 518 million dollars compared to those recorded in the same period in 2014, which was mainly due to higher revenues from the Social Security Agencies and Non-Consolidated and Operational Results of public enterprises and consolidated agencies.
Investment are reduced if not non-existant. Progress stopped, but expenses are up 5%. This government does the contrary that should be made, jeopardizing the future…..No worry be happy.