One more year, the local government takes up the claim for the Cooparticipación “reason for which a contingency budget is presented again.” According to projections, the reduction by Coparticipation will be deepened in 2022: at the end of 2021 it will stop receiving $ 96,000 million and by 2022, the loss will reach $ 120,000 million.
What will the City invest in?
Taking as a guideline the project presented by Martín Guzmán to Congress that estimates an inflation of 33% by 2022 and a dollar at $ 131, the City Government, focusing on the electoral campaign, projects expenditures on:
- 51% of the budget will be allocated to Education, Health and Social Promotion.
- It is followed by Security, with a total budget percentage of 15.9%.
- Public works and maintenance of public space: 14%.
Regarding the specific numbers, a total of expenses of $ 964,388 million and a total of resources for $ 944,343 million are estimated, which projects a deficit Financial Result of $ 20,045 million, which represents only 2% of the total budget and improving the result of 2021 which will be 5.8%.
In addition, A surplus Primary Economic Result of $ 181,085 million is estimated, since Current Income is estimated to be around $ 941,107, while $ 760,022 is projected for Primary Current Expense, while a Primary Result is also estimated to have a surplus of $ 49,232 million.
Where do the resources come from?
The total resources Estimated for the year 2022 are increased by 44.3% compared to 2021, with a forecast of $ 944,343 million, corresponding to $ 941,107 million (99.7%) to current resources and $ 3,236 million (0.3%) to resources capital.
For 2022, the main revenues of the City will come mostly from tax revenues (of $ 737,658 million) and, secondly, from Federal Coparticipation, $ 106,138 million (remaining 12.6%).
In fair terms, 67.7% of the City’s income will be from Gross Income, 12.6% from Co-participation, 7.7% from Stamp Tax, 6.7% Real Estate Tax and 4.6% from vehicles (patents).
Tax exemptions
Two novelties in the Budget 2022 they are in the emphasis in granting greater benefits to the taxpayers and not creating new taxes. In this sense, the City proposed two tax exemptions to highlight:
- 100% Exemption from Gross Income Tax for kindergartens.
Refers to those establishments for the comprehensive care of the child population from 45 days of age to 4 years inclusive.
- 100% exemption of the Tax on Gross Income during the first year at new registrants in the Simplified Regime Category.
In addition, a 50% exemption is established during the second year. Among the beneficiaries of this measure are individuals who bill up to $ 2,600,000 a year. This exemption will allow them to save up to $ 78,000 annually or $ 13,000 bi-monthly.
The detail of the expenses
Regarding spending by purpose and function, social areas such as Education, Health and Social Development comprise most of the investment for 2022, with 51.9% of total spending. Social Services will reach a total of $ 500,820.4 million, with a positive variation of $ 139,026.8 million compared to the projected end of 2021, that is, 37% more.
In this sense, the functions Health, Social Promotion, and Education they jointly explain 89.6% of the total expenditure on this purpose. In the total budget for 2022, Education is the area with the highest participation with 19.5%, against the 18.7% expected for the end of the current year.
Regarding the nominal variation, by 2022 investment in Education will reach $ 188,259.9 million, with a growth of $ 59,142.7 million and increasing 45.8% with respect to 2021.
For its part, the function Health represents 16.4% of the total budget. It has assigned a credit of $ 157,867.4 million for 2022, with a growth of $ 34,968 million. While Promotion and Social Action represents 10.6% of the total, with a loan of $ 102,408.3 million and a growth of $ 25,402 million compared to what is projected for 2021.
Refering to Security, this purpose constitutes one of the major concerns of the residents of the City. For this reason, it maintains its proportion in the total budget and represents 15.9% of the total projected for the next fiscal year, with a planned loan of $ 153,660 million. The striking fact is the increase in the budget in Government administration: represents 12.1% of the total and foresees a credit allocation of $ 116,558 million, increasing its credits by $ 33,048 million compared to 2021.
The Economic Services present 12.8%, with an assigned credit of $ 123,594 million, while the Debt Services purpose shows an assigned credit of $ 69,755.6 million, representing 7.2% of the total expenditure, one point per below the 8.2% projected for the end of the current year and reducing its participation in total spending by 12%.
Source From: Ambito
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