Friday, October 7

National Assembly approves in third debate the General State Budget for 2022

Bill No. 637, which dictates the General State Budget For the fiscal period of 2022, for an amount of $ 25,294.7 million, it was approved in the third debate by the plenary session of the National Assembly of Deputies, in the presence of the Minister of Economy and Finance (MEF), Hector Alexander.

The settings recommended by the Budget Commission included modifications by $ 560.0 million, while those requested by various institutions, during the budget hearings, amounted to $ 2,453.4 million.

The MEF maintained the government’s commitment to prioritize investment over current and operating expenses, for which it recommended an increase in $ 168 million bRoasted in additional own income, suggested by Central Government and decentralized entities.

The reason for the adjustments is due to clear signs of the pace of recovery from the crisis caused by the coronavirus pandemic (COVID-19) in public finances that is still impacting the world economy.

The project of Budget for 2022, It was prepared in accordance with the legal provisions that govern the matter, following the guidelines of the budget policy, enunciated for fiscal 2022, it reflects the fiscal policy strategy that the Government will maintain.

The adjusted budget of $ 25,294.7 million complies with the fiscal deficit levels set in the Social Fiscal Responsibility Law and represents an increase of 4%, compared to the modified budget of 2021.

Similarly, the budget for 2022 reflects an increase of $ 254.4 million, in the investment area and a decrease of $ 86.3 million, in the operating part, compared to what was presented last July.

The Budget 2022 It is distributed in the following sectors: $ 11,582 million, for the development of social services, $ 202 million, for environmental and technological development, $ 1,574 million, for infrastructure, $ 717 million, for the development and promotion of production, $ 3,975 million, for financial services , $ 3,335 million, to general services and $ 3,909 million, to the service of the Public Debt.

“The budget constraints are real and the current room for maneuver is tight, as the size of the budget is heavily influenced by revenue. Our income depends on the performance of the economy. We have to facilitate the activity of the productive sectors, regain confidence to contribute to an environment more conducive to new investments and exports, and to the extent that we are successful, the conditions will improve to strengthen public budgets for the coming years “, stated Minister Alexander.