Wednesday, October 5

Cabinet Council authorizes an increase of $ 168.1 million to the General State Budget 2022

The Cabinet Council approved an increase of $ 168.1 million to the 2022 General State Budget Project that now goes from $ 25,126.6 million to an amount of $ 25,294.7 million, which according to what was stated by the Minister of Economy and Finance, Héctor Alexander, complies with the levels of fiscal deficit included in the Social Fiscal Responsibility Law.

This occurs after the support by the Ministry of Economy and Finance (MEF) on August 12 of the current fiscal period, of the General State Budget in the amount of $ 25,126.6 million, for the period of 2022 before the Budget Commission of the National Assembly, a sum that was modified according to the recommendations of the Legislative body.

According to the statement from the Presidency of the Republic, after some adjustments requested by various institutions, during the Budget Hearings to face their investments, The MEF maintains the government’s commitment to prioritize investment over current and operating expenses, for which reason it made an increase of $ 168.1 million for the revenues of central and decentralized government entities.

During the Cabinet Council held this Thursday, Minister Alexander indicated that ldue to these adjustments, it is due to the crisis caused by the pandemic in public finances which is still impacting the world economy.

The minister stressed that ehis administration has faced a difficult situation since 2020 when receiving compromised public finances and then face the pandemic and recalled that for next year’s budget “we have the challenge of recovering income to offset expenses.”