A barrel of oil price of $ 59.20 and a global deficit of $ 3,783.50 million are proposed. The National Assembly has 30 days to analyze the proforma.
The authorities of the National Government came forward one day of the deadline to send the budget proforma from 2022.
The delivery, according to the Constitution, could be made until this October 31, 2021, but it was delivered today (October 30), after 6:00 p.m. The document is signed by the President of the Republic, Guillermo Lasso.
The figures in detail
According to information from Ministry of Finance, the total amount of the proforma reaches $ 33,899.73 million (includes the Deficit Derivatives Financing Account – CFDD), which represents a increase of $ 2,438.57 million (2.22% of the Gross Domestic Product – GDP) in relation to the codified until August 31, 2021 of the General State Budget (PGE).
“The proforma 2022 will be an instrument that allows progress in the fulfillment of the economic plan of the ‘Government of the Meeting’, to achieve a sustained economic growth and environmentally responsible, that generates quality employment, fiscal stabilization with equity, honest management with efficiency and transparency of public resources, “says the Executive, in a statement.
Within the macroeconomic assumptions that support the proforma, a oil export barrel at $ 59.20; a real growth of 2.85% GDP; a inflation (average) 1.28%; a volume of production controlled oil of 179.88 million barrels; and, a nominal GDP of $ 109,618.57 million.
The Total revenue of the proforma total $ 24,114.62 million and expenses are $ 27,898.12 million, resulting in a global deficit of $ 3,783.50 million, equivalent to 3.45% of GDP. This figure represents $ 29.70 million more than the deficit registered in the coded budget until August 2021.
The proforma, which has been presented to the National Assembly, does not include no income expected by the Organic Law for Economic Development and Fiscal Sustainability, after the pandemic of Covid-19.
On the other hand, as detailed, the Expenses modify the classification of some items of wages and salaries, purchase of goods and services and current transfers, which were usually recorded as a non-permanent expense and now they consist as permanent expense, with the objective of presenting transparent budget information according to its economic nature.
In this way, the expenses that have a direct and permanent relationship with the operations of the State, as well as the policy of social protection, they are presented as permanent expenses. Consequently, permanent income from proforma 2022 they are lower than permanent expenses by $ 740 million.
A part of the permanent expenses of education, health and justice they will be financed with non-permanent income, in accordance with the exceptionality provided in Decree 170 in application of the provisions of the Constitution.
Financing
The needs of financing of the 2022 proforma reach $ 9,768.85 million, which is $ 874.74 million that exceeds the value encoded as of August 2021.
In addition, the proforma guarantees, according to the data provided by the Ministry of Finance, the social protection programs for vulnerable families in the country, with an allocation of $ 1,470.93 million. (RR)
