As part of the 2018 National Budget Law, the Medina administration included an authorization to the Executive Branch to sell shares or capital participation of the government in companies or projects that surpasses no more than 5% of the non-financial sector public debt, or approximately IS$1.453.7 million, given that the non-financial public debt is at US$29,074 million as of October 2017, as reported in Diario Libre. Article 10 of the National Budget containing this provision had been contested by opposition legislators Faride Raful and Francisco Paulino because of its lack of specifics.
Economist Jose Rijo Presbot speculates the only project of such magnitude is the Punta Catalina thermoelectric power plant. The construction at the power plant has recently been affected by demands by Odebreht for an US$708 million to complete the contracted work.
On 30 November 2017, in a presentation of the budget to legislators, the director of the National Budget Luis Reyes had said that the plan was for the government to partially divest itself of Punta Catalina thermoelectric power plant once the construction is completed and the plant is in operation, as reported in Diario Libre.
26 February 2017
