The Minister of Finance, Ricardo Bonilla, presented an economic balance sheet within the framework of the annual energy congress of Acolgén. During his speech, the head of the portfolio referred to the impact that the energy sector could have the adjustment of the price of diesel (ACPM) in relation to inflation.
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Bonilla said that it is estimated that with the increase of $400 in the value of a gallon of ACPM, the monthly Consumer Price Index (CPI) could be impacted by 0.05% in September. This also takes into account the impacts generated by the truckers’ strike.
The official also mentioned that the Minhacienda’s projections indicate that the indicator will close 2024 at 5.3% and indicated that it could return to levels of 3% in 2025, in line with the goals established by the Bank of the Republic.
Likewise, he reiterated the call to the Issuer to accelerate the cuts in interest rates andRaise the intervention rate to the market-predicted level of 8.5% by the end of 2024.
“To reach the 8.5% that the markets expect, we are currently at 10.75%. There are three meetings left, in each of which we would have to drop 75 points to get there”he explained.
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Ricardo Bonilla
Cesar Melgarejo/ CEET
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Regarding the Fuel Price Stabilization Fund (Fepc), the minister indicated that with the total increase of $800 that will be applied to diesel, including the $400 that have already been applied and those that remain to be adjusted in December, the deficit would be $11 billion.
“In 2024 we will close the deficit gap with $11 billion. With the adjustments we can make in 2025 it will be $5 billion and in 2027 it should be closed and then we will hand over the resolved issue to the next government.”he said.
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