LatinNews Daily - 21 October 2020

In brief: Costa Rica’s Alvarado receives budget setback

* Costa Rica’s congressional finance committee has voted against the 2021 national budget proposal, presented by the centre-left Partido Acción Ciudadana (PAC) government led by President Carlos Alvarado, which proposed spending of ¢6.59trn (US$10.9bn). The motion was rejected by representatives from opposition parties including the Partido Liberación Nacional (PLN) and Partido Unidad Social Cristiana (PUSC), after the PAC refused to accept proposed spending cuts. The finance ministry continues to trumpet its commitment to cutting spending, highlighting that the 2021 budget proposal includes a ¢368bn reduction in spending compared with the 2020 budget - equivalent to 1.02% of GDP. It is also pledging to introduce further cuts of ¢150bn in public spending in January 2021.

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