Nicaragua allocates 52.8% of the 2024 budget to social spending and to combat poverty.
Nicaragua allocates 52.8% of the 2024 budget to social spending and to combat poverty.

The Parliament of Nicaragua approved the General Budget of the Republic 2024, with a total amount of 138,634 thousand cordobas (3.7 million dollars), allocating 52.8% to social spending and initiatives to combat poverty.

“The National Assembly of Nicaragua unanimously approved… the Annual General Budget Law of the Republic (PGR) 2024, which allocates more than 52 percent of resources to social spending, to continue guaranteeing free health and education, citizen security, decent housing and subsidies for vulnerable sectors such as energy, transportation, infrastructure, drinking water and sanitation,” the Legislative statement quotes.

The projected budget for 2024 in Nicaragua represents an increase of 27.1%, compared to the previous year’s budget, achieved with internal financing from the citizens of the Latin American nation of 87.1% of total income.

Sandinista Government stands out in reducing poverty

The president of the Production, Economy and Budget Commission, Wálmaro Gutiérrez, highlighted that international organizations have recognized the Nicaraguan Government as one of the most efficient, transparent “and the one that has reduced poverty the most in 158 (years) of republican history and extreme poverty in Nicaragua”.

Likewise, as quoted by the National Assembly, he stated: “The government has had zero tolerance for corruption and the theft of public funds, which has allowed it to efficiently manage those resources of Nicaraguans to build more roads, more schools, more health centers, more hospitals, and more credit for production”.

According to the declaration, the parliamentarian, Filiberto Rodríguez, president of the Commission on Peace, Defense, Governance and Human Rights, emphasized the increase “in the municipal transfer to the 153 municipalities of the country, which will allow progress in important projects such as construction of wells for drinking water and roads”.

You can read: Venezuela rejects presence of the US Southern Command in Guayana Esequiba

The education sector will receive 19.5% of total education spending in 2024, a significant increase of 13.7% from the previous year. The health area will have 24,099.8 million córdobas, equivalent to 18.0% of total spending, reflecting an increase of 9.2%.

You may be interested in: What does the activation of Article 99 of the UN Charter consist of?

Likewise, in 2024, 1,564 million will be allocated in subsidies for urban transportation, as well as for energy and drinking water subsidies for retired Nicaraguan citizens.