In the Senate Labor Committee, within the framework of the discussion on the financing of the Guaranteed Universal Pension (PGU), the Minister of Finance, Rodrigo Cerda, affirmed that the Government of the President-elect Gabriel boric it will have about US $ 4.3 billion in extra revenue, due to projected growth.
“The year 2021 is a year in which we believe that we are going to have a very high growth, we are going to grow 12% surely, much higher than what we expected when we made the Budget, which at that time we did it with 9%,” said the owner of the Treasury.
“But as we are growing more, what the execution figures show us is that much more was collected, and therefore, we now start with higher tax revenue for 2022,” he added.
The Secretary of State mentioned that “what we had budgeted for as income was practically US $ 63,108 million.” However, he commented that the current projection is US $ 67,439 million.
“That means that the income for the year 2022 increases by US $ 4,332 million in projection, that means that not only is the provision that we have discussed in the Budget available as a source of financing, but there is also today more than US $ 4,300 million of higher income that the elected government can surely use it for whatever it wants, “said Cerda.
“It gives us the peace of mind that the Universal Guaranteed Pension project is financed for 2022 and that there are higher income bases going forward. This is very relevant because it gives us more space to move forward as soon as possible with this initiative (the PGU)” added the Minister of Finance.
Regarding the financing of the PGU, Cerda recalled that the resources would be obtained from the modification or elimination of tax exemptions (0.35% of GDP); the reduction of the mandatory contribution to be made to the Pension Reserve Fund (0.1% of GDP), and the financial program for pension reforms under discussion in Congress (about 0.5% of GDP).
