In fiscal terms, the initiative is based on an inflation projection of 18.3% for the entire year, which may turn out to be a rather optimistic guideline since most of the Analysts expect the CPI to rise by 38.4% (REM).
The initiative proposes that next year the The National Public Sector (NPS) will have a favorable primary result of $10.1 billion (1.3% of GDP). By 2024, the projected result is $8.6 trillion, equivalent to 1.5% of GDP.
As for the financial result, i.e. including interest payments on the debtby December the result will be balanced at zero, for a total of just $1.679 billion. While for the 2025, the financial result will be $192,334 million, which are also equivalent to a zero result.
In terms of resources, the Government proposes a national tax pressure (measured as the ratio of revenue to GDP of 15.5%), one-tenth of a point higher than projected for 2024. In 2025 it expects to collect $118.1 billioncompared to 87.2 billion this year.
If added the rest of the State’s resources, the sum amounts to $125.9 billion, equivalent to 16.1% of the GDP. This year, total revenue will be 94.7 billion, equivalent to 16.7% of GDP.
True to the zero deficit guideline, the The Government has established that primary public spending for 2025 will be $115.7 billion (15.2% of GDP), while total spending will amount to $125.7 billion (16.5% of GDP).
As for taxes, the Government plans to collect Income Tax, for $13.1 billionwith an increase of 41%; VAT (net of refunds) $24.7 billion, with an improvement of 28.6%; and Export Duties, $10.7 billion, with 100% progress.
He PAIS tax disappears and import tariffs are improved by 50% to $4.3 billion. The single tax will collect about $472 billion, with an increase of 196%, and the Check Tax, with $12.3 billion, which implies an increase of 34%.
He Fuel tax will grow 155.5% based on revenues of $2.1 billion. The only tax that will be reduced is Personal Property, with 22.7%, for $326,732 million.
In terms of current expenditure, Consumer spending will be $18 trillion, an increase of 44.5%; interests and Other property income $10 billion (14.4%); Social Security benefits $48.1 billion (39.3%), current transfers, $35.6 billion (25.3%) and other expenses for $4,098 million (128.6%).
Source: Ambito
