The Minister of Economy, Sergio Massa, will send the 2024 Budget Law project to Congress this Friday, as established by the Financial Administration law.
This way, The ruling party confirmed that it will present the project “in a timely manner”which will establish the resources, financing sources and expenses available to the national public administration for next year.
The Financial Administration Law establishes that every September 15 the Government must present the budget for the next year’s period, to then guarantee its treatment and be voted on in Congress.
However, the treatment of the project will be postponed “until after the elections”and in this way take into account an eventual change in the political sign of the Executive.
What the Budget establishes about the exchange rate
Regarding the exchange rate, The project contemplates that it will go from the current $350 to $367 at the end of December 2023. While, At the end of next year it would stand at $600, resulting from the application of a crawl policy aligned with inflationaccording to what they maintain in the Ministry of Economy.
It should be noted that this week the Market Expectations Survey (REM) published by the BCRA was released. There market analysts reported that they expect a stable exchange rate until October.
The projected nominal exchange rate remained around $350 per dollar, as announced after the recalibration on August 14. For November they placed it at $405.47 and for December at $510.01. January 2024, it was established at $669.81.
Source: Ambito
