LatinNews Daily - 14 August 2018

Nicaragua: The Frente Sandinista de Liberación Nacional (FSLN) government led by Nicaragua's President Daniel Ortega, has sent down a proposal to the FSLN-controlled 92-member unicameral national assembly to cut the 2018 state budget. The changes aim to address the loss in revenue stemming from the crisis caused by the crackdown which has been taking place since mid-April on anti-government protesters. Finance Minister Iván Acosta explained that the drop in income was so far equivalent to C$7.46bn (US$233m) or 9.2% of the C$80.77bn income expected for 2018 or 1.7% of GDP. In the same report, Acosta explained that sectors such as tourism, trade, and transport were particularly affected. Damage to the public sector is calculated at 252 public buildings destroyed, 209km of roads damaged, and 278 machines and 389 vehicles either damaged or destroyed. The minister also put losses to the tourism sector at US$231m, with 8,600 small businesses in the tourism sector being forced to close.

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