CandleFocus El Salvador President Nayib Bukele to Present Debt-Free Budget for 2025
2024-09-16
Author: Content Editor
El Salvador President Bukele plans to submit a budget for 2025 with no deficit, marking a significant improvement from the $338 million deficit in the 2024 budget and the $1.2 billion deficit when he took office in 2019. Bukele aims to finance the budget without taking on any debt for current spending, signaling a shift towards financial independence. The Finance Minister clarified that this will be the first budget in decades that doesn't issue any local or foreign debt. El Salvador, which adopted bitcoin as legal tender this year, currently holds 5,874 bitcoins worth $331.4 million. The country has been in discussions with the International Monetary Fund to strengthen public finances and mitigate risks associated with bitcoin.
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