El Salvador's president proposes 2025 government budget that does not include planned deficit

According to Mars Finance, Salvadoran President Nayib Bukele is expected to submit a 2025 government budget that does not include a planned deficit. Nayib Bukele said in commemoration of the 203rd anniversary of El Salvador's independence: "I declare that on September 30 of this year, we will submit to the Legislative Assembly the first fully funded budget in decades, without borrowing a penny for current expenditures. El Salvador's expenditures will no longer exceed its annual output. We will not even borrow money to pay the interest on the debt we inherited. We will even pay it back with our own production." According to the El Salvador Daily, Salvador's Finance Minister Jerson Posada elaborated that this will be "the first time in decades that the country will not issue a penny of debt in the budget, whether local or foreign debt." Original link: https://www.coindesk.com/policy/2024/09/16/el-salvador-president-nayib-bukele-...