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LatinNews Daily - 15 August 2018

In brief: Nicaragua

Nicaragua: Nicaragua’s 92-member unicameral national legislature, which is controlled by the ruling Frente Sandinista de Liberación Nacional (FSLN) party, has approved the proposal put forward by President Daniel Ortega to cut the 2018 state budget by 9.2% - the steepest cut seen since President Ortega took office in 2007. The changes aim to address the loss in revenue stemming from the crisis caused by the crackdown which has been taking place since mid-April on anti-government protesters. Finance Minister Iván Acosta explained that the drop in income was so far equivalent to C$7.46bn (US$233m) or 9.2% of the C$80.77bn income expected for 2018.

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