El Salvador to Self-Fund 2025 Budget with No New Debt, Says Bukele

President Nayib Bukele announced that El Salvador will fully self-finance its 2025 budget, marking the first time in decades the government will not issue debt to cover its expenses.

Bukele emphasized that no debt will be used, even for interest payments. As the country aims for greater financial independence. His second term will focus on economic growth, having already secured over $1.6 billion in private investment and implemented measures against inflation. Global markets responded positively. With Salvadoran bonds reaching their highest levels since 2021. Despite the country’s significant $31 billion public debt.

Clever Robot News Desk 18^th September 2024