This year’s General Budget of the Nation will have a cut of 28.4 billion pesos due to the low collection that Dian has had this year.
Although a few weeks ago, the Minister of Finance, Ricardo Bonilla, spoke about the possibility that the figure was 33 billion pesos, it will ultimately be somewhat lower, as discussed last night in the Council of Ministers.
It must be remembered that in the presentation of the Medium-Term Fiscal Framework in June of this year, the Treasury portfolio suspended 20 billion pesos from the Budget because the collection goals were not being met.
“Today we already know that the collection is not going to be achieved, so the suspension of 20 billion pesos must be made an effective cut,” said Bonilla.
So far, resources of 364.1 billion pesos have been committed between January and October, which is equivalent to 72.3% of the current appropriations of the General Budget (503.5 billion pesos).
Furthermore, according to the Treasury portfolio, 316.8 billion pesos have been executed, a figure equivalent to 62.9% of the total Budget, and 312.6 billion pesos have been paid, 62.1% of the total.
In addition to this, if the financing law or better known as tax reform is not approved next year, the Government would also have to cut the Budget.
Of the 523 billion pesos that are proposed for 2025, there are 12 billion that are uncertain and depend on the approval of a tax reform. However, there are congressmen who will oppose this project.
The Government is expected to file the initiative in Congress and begin discussing it in December.
WEATHER – ECONOMY
