El Salvador President Nayib Bukele announced that he will submit the 2025 budget to the Legislative Assembly on September 30, emphasizing that this will be the first "deficit-free budget" in El Salvador in decades.

Nayib Bukele said at an event celebrating the 203rd anniversary of El Salvador’s independence: “I hereby announce that on September 30 this year we will submit to the Legislative Assembly the first budget in decades that will be fully funded by our own funds. We will not need to Borrowing another penny for current expenses will no longer cost us more than the country produces each year," he added.

We won't even have to borrow money to pay the interest on the debt we inherit, which will be paid for by our own production.

He further emphasized: "In the future, we will have a stronger economy, not only more independent in terms of freedom and security, but also completely financially self-sufficient. Our next generation will inherit an economically prosperous country."

According to El Salvador’s Finance Minister Jerson Posada, the country’s 2025 budget will not create any new debt. “This is the first budget in El Salvador in decades that does not rely on any domestic or external debt.”

El Salvador has a budget gap of $338 million in 2024 and total expenditures of $9.1 billion, according to official documents published by the Legislative Assembly, compared with a $1.2 billion budget deficit when Nayib Bukele took office in early 2019.

El Salvador has adopted the U.S. dollar as its legal currency since 2001, so it cannot print its own money to cover fiscal expenditures. Later, driven by Nayib Bukele, it listed Bitcoin as legal tender in 2021, but it was also questioned by the outside world as a "bet." Guo Yun" bets on speculative assets.

According to the Bitcoin Office website, El Salvador currently holds 5,874 Bitcoins worth about $331 million, with a paper profit (floating profit) of about $43 million.

Nayib Bukele pointed out last month that El Salvador has benefited a lot since transforming into a "Bitcoin country", and the risks warned by institutions such as the International Monetary Fund (IMF) have not yet appeared, but he also admitted that Bitcoin's The popularity has not yet reached expectations.

〈No more reliance on foreign debt! El Salvador President Nayib Bukele will propose a “deficit-free budget.” This article was first published on "Blocker".