 Of greater concern is the fact that a full 46% of the budget will require financing, a step that will increase the debt owed to foreign entities.In late July 2017, the Central Bank estimated the budget deficit at 6.1 percent of the country's GDP.In early August 2017, President Luis Guillermo Solís admitted that the country was facing a "liquidity crisis", an inability to pay all of its obligations and to guarantee the essential services.