The draft General Budget of the Nation (PGN) for 2023, presented to Congress this morning, reflects the responsibility and interest of the Government in laying the foundations to continue building a more solid economy that is capable of facing adverse situations such as the one we have experienced in recent years, highlighted the Minister of Finance, Oscar Llamosas, during a meeting with the media.
In this sense, he emphasized that Paraguay has been one of the few in the region that, thanks to its soundness and macroeconomic stability, was able to implement fiscal and monetary policies to mitigate negative impacts. He also pointed out that the State plays a leading role in promoting economic recovery, with social demands at its core.
In line with this, the minister highlighted that PGN 2023 increased resources in high-impact programs for poverty reduction, such as the Tekoporã program and alimony for the elderly.
Regarding the Tekoporã program, aimed at families in poverty, it is intended to incorporate 5,000 new beneficiaries, which represents an investment of G. 442,000 million. In this way, 175,000 families will be reached with monetary transfers.
Regarding the alimony program, the PGN proposes to include 20,000 new older adults, with an investment of G. 2.3 billion, which will reach some 300,000 assisted. It should be noted that, without the program for older adults, the poverty level would rise to 35%.
At another time, Minister Llamosas said that a rebound for the economy is in sight in 2023, motivated by an estimated improvement in the harvests of the main agricultural items and a favorable economic performance of the other sectors. “We estimate a growth of the Gross Domestic Product (GDP) around 4.5%. Also returns to much more reasonable levels of inflation close to what is established by the inflation target of the Central Bank of Paraguay (BCP), around 4.1%, with a Public Debt that will remain at relatively stable and low levels if we compare it with the other countries in the region”, he detailed.
He also pointed out that an improvement in fiscal and tax revenues is projected, where a growth of around 9% is estimated, compared to the closing scenario foreseen for this year, and that said additional resources can be directed towards sectors such as education, health , social protection, fight against organized crime, security, public investment, which are fundamental pillars of PGN 2023.
