In the last hours of October 18, the Senate approved the General Budget of the Nation (PGN) for 2023 with an amount of $405.62 billion for next year. This implies a 15.1% increase in resources compared to what was allocated in 2022.
(In context: the Senate approved the 2023 Budget in plenary; the House is missing).
At the same time, the project is debating in the House of Representatives. The Senate voted on a first block of 96 points, those that did not include propositions, which was approved with 67 yes votes and 10 negatives.
After the approval of one of the chambers of Congress, the Minister of Finance, José Antonio Ocampo, highlighted it positively: “We greatly celebrate this victory of the Government, which is also a victory of the Congress of the Republic,” he stated.
It is a budget that advances significantly on the draft that the previous government had presented, according to the senior official. Especially, it does a significant increase in social programs and fight for peace. Also, agrarian reform, education, health, social housing and aqueducts. It also contemplates an additional investment in tertiary roads.
(Also: They reveal the costs of holding the possession of Petro and Francia Márquez).
Ocampo also stated that believe that it will be fully approved.
Regard the impact of the tax reform on the budget, the portfolio manager assured that the project will increase investment in social programs. He recognized that the investment budget grows much less than inflation in real terms, which is why the tax resources are necessary.
Before the historical figures of the dollar, he said: “We are going to have a responsible macroeconomic policy, we are going to comply with the fiscal rule, there are not going to be exchange controls. We are going to diversify exports“.
They seek to guarantee a good volume of exports in the country and the ability to sustain a solid balance of payments. From the Government, in addition, they hope that in the next few days “the markets will calm down”.
(Read: They will deliver economic benefits to 120,000 small producers).
Finally, the Minister of Finance was open to debate and receive criticism from parliamentarians on the tax reform. Specifically, from the Liberal Party that issued a list of objections to the project.
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