November 21, 2022, 12:11 PM
November 21, 2022, 12:11 PM
The Government foresees a growth of the Gross Domestic Product (GDP) of 4.86% in the General State Budget 2023, greater than the forecasts given by international organizations in recent months. Likewise, it calculates a deficit of -7.49%, less than that foreseen in the present management (-8.50%) as well as a lower investment than in 2022, projected at Bs 4,006 million.
Marcelo Montenegro, Minister of Economy and Public Finance, today presented the objectives of the PGE 2023, He said that public investment will be Bs 4,006 million, less than the resources planned for 2022 when they were Bs 5,015 million.
In addition, the Government anticipates that the exchange policy with respect to the dollar will be maintained. The fixed exchange rate shown on the document is Bs 6.86 against the dollar.
Thus, the Government estimates GDP at 4.86% for the next administration, when the International Monetary Fund projects 3.5% and ECLAC 3%. The World Bank is even more moderate and estimates Bolivian GDP at 2.8% for 2023.
Regarding the behavior of pricesinflation is estimated in the PGE 2023 at 3.57%, very close to 3.30% of the present administration.
Regarding the consolidated budget, it goes from Bs 235,090 million (in 2022) to Bs 243,950 million for next year; while the aggregate budget rises from Bs 304,045 million to Bs 317,129 million; that is, 4.3%.
In consolidated terms of income and expenses, Montenegro estimates income of State bodies in Bs 128,493 million, while the companies public companies generate Bs 79,588 million, which represents 33% of the total.
Montenegro affirmed that among the objectives of the PGE 2023 are to guarantee macroeconomic stability and sustainability of public finances and deepen the industrialization process with import substitution.
Decentralized, mayors and governments in deficit
In the Consolidated Budget of Income and Expenses 2023, the Executive reflects the deficit in decentralized entities, municipalities, governorates, public universities and financial institutions.
decentralized entities (Supreme Electoral Court, State Comptroller General, National Institute of Statistics) register the highest deficit by projecting income of Bs 10,898 million against expenses of Bs 36,826 million.
In the case of municipalities, it is estimated income for Bs 8,655 million, but expenses amount to Bs 17,476 million for next year. The governments project income for Bs 1,941 million when the expected expenses add up to Bs 8,052 million. And public universities will receive Bs 2,741 million against expenses of Bs 6,466 million.
While the financial institutions that depend on the State, foresee income for Bs 2,332 million against expenses for Bs 3,999 million; a deficit of Bs 1,667 million.
In recent weeks, opposition deputies observed that the PGE 2023 had not been presented on October 31 in the Legislature, as established by law, but today the Ministry of Economy and Public Finance sent a photo of the letter sent by President Luis Arce to the Assembly, endorsed on that date.
The forecasts of the PGE 2023:
