He Government of the City of Buenos Aires requested this Wednesday in the Buenos Aires legislature the approval of a expansion of the budget of $639,000 million because “the inflation will exceed the original calculation” of the expenses and investments planned for 2023, in addition to “the need to face the new salary agreements”.
The project was sent this Wednesday to the local Parliament by the Buenos Aires head of government, Horacio Rodríguez Larretaand received an opinion at the meeting of the Budget Committee. In this way, it can be voted on in the session of August 31.
A delegation of officials from Ministry of Treasury and Finance of the local government headed by the undersecretary Gustavo Arengo Piragine, explained that the budget initially stipulated at $2.1 trillion Its final objective is “to comply with the established government plan”.
According to the leaders, “the budget modifications reflect a criterion of fiscal and financial responsibility for this exercise”. In addition, they maintained that “the favorable treatment will allow us to accompany the inflationary process so that the workers of the City of Buenos Aires do not lose purchasing value of their salaries.”
Inflation: why the City government asks for a budget increase
He government of the City of Buenos Aires intends to increase salary income: $273,936,691,078 they will be destined to “the salary agreements carried out to date with the different union organizations that represent the workers of the City and in the estimated annual inflation”.
In addition, the Buenos Aires management seeks to incorporate $22,343,465,537 for “the acquisition of medicines and other supplies for the health systemdairy products destined for the Ministry of Education and uniforms, fuels and lubricants destined for the Ministry of Justice and Security” in terms of consumer goods.
The Executive details other investments of $91,983,904,875 to “meet the investment requirements in works and equipment of various ministries” and “higher expenses related to debt services for $26,376,326,250 in concept of amortizations and interest due to the increase in the interest rate and the average exchange rate”
Inflation in July was 6.3%, according to INDEC
July inflation was 6.3%, thus ending two months in a row in which there was a slowdown. Thus exceeded 60% increase in the first 7 months of the year and year-on-year there was a slight decrease to 113.4% (from 115.6%); this is the first time annual inflation is lower than that registered in the previous month since January 2022As reported this Tuesday, August 15, the National Institute of Statistics and Censuses (INDEC).
Source: Ambito
