In a groundbreaking announcement on national television, President Nayib Bukele declared that El Salvador is achieving fiscal independence. For the first time in many decades, the country’s new General Budget will be entirely self-financed, eliminating the need for external debt to cover state expenditures.
“This is a historic moment for El Salvador,” President Bukele stated. “We will no longer spend more than we produce annually. The benefits of this approach will be immediate and will grow each year, contributing to a more robust economy and a financially independent nation.”
The President revealed that the budget will be submitted to the Legislative Assembly on September 30. This significant change marks a new era in the country’s economic transformation, promising to ensure that future generations inherit a financially prosperous El Salvador.
With this move, El Salvador is set on a path toward true economic freedom, avoiding the need for additional external debt and demonstrating a commitment to sustainable fiscal practices.