“The new expenses authorized by the Chamber of Deputies represent 0.4% of GDP,” estimates the OPC report, which clarifies that “Bearing in mind that no increase in total spending is expected, these adjustments are expected to imply either a reduction in other expenses or an increase in spending after the Law is enacted. with the increase in the respective financing.
The new expenditures included by the deputies are:
- Authorization of works and acquisition of goods and services that affect future fiscal years for $198,178 million. (Article 11)
- National Fund for the Enrichment and Conservation of Native Forests for $1,000 million. (Articles 17)
- National Native Forest Program for $500 million (Article 17)
- Compensation Fund for Public Transportation of passengers in the interior of the country for $18,946 million. (article 81)
- Allocation to the Province of La Rioja and its Municipalities for $21,300 million (article 83)
- Increase in social expenses for $327,065 million (article 116).
The report notes that the point 116 of the budget “gives the power to the Chief of the Cabinet of Ministers to make the corresponding budget adjustments”, for expenses in programs such as food policies, assistance to the disabled, scholarships for students, Teacher Incentive Fund, National Land, Housing and Urban Development Program, among others
On the other hand, in the Article 11 incorporates the authorization of 798 new works that complement the original payroll presented by the Government for a total of 743 equivalent to $196,936 million in 2023.
“It should be noted that the works detailed in form 1 proposed by the National Executive Power have the respective financingwhile for the works on form 2, incorporated by the Chamber of Deputies in article 11, the Chief of the Cabinet of Ministers is empowered to make the necessary compensations within the total of the approved budget credits”, clarified the OPC.
On the other hand, it is highlighted that in the case of the Education and Culture function, with the increase approved by the deputies, the expense amounts to 1.26% of GDP. To reach the minimum allocation in educational matters in 2023 equivalent to 1.33% of GDP, provided for in article 130 incorporated by the half sanction of the Chamber of Deputies, se estimates a higher expense of $108,078 million.
The 2023 Budget indicates, on the other hand, that If as of August 31, 2023, the accumulated inflation rate exceeds the annual goal established in the project by 10%, or if the revenues of the National Public Sector exceed those forecast for the accumulated period by 10%, the National Executive Power must send a Complementary Law to Congress and a spending plan for the fourth quarter.
Source: Ambito
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