Government’s problems include paying $1.5 billion a year in interest

The country is paying more annual interest on its debts than the combined budgets of all 15 ministries, that of the Asamblea Legislativa, the Tribunal Supremo de Elecciones, the Contraloría General de la República and the Defensoría de los Habitantes, according to the finance minister.

The minster, Helio Fallas Venegas, once again appeared before a legislative committee to push for approval of tax packages that have been proposed by the central government.

Fallas also is first vice president. He told the Comisión Permanente Especial de Control de Ingreso y Gasto Público that the national debt has increased nearly 50 percent since 2008.

The change was given in percentage of the gross domestic product.

In 2008, the debt was 28 percent, and now it is 43 percent, he said. And the interest he reported for each year is more than 800 billion colons, some $1.5 billion at the current dollar rate of exchange.

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