Why Minhacienda will seek an increase in the 2023 Budget

Why Minhacienda will seek an increase in the 2023 Budget

The Minister of Finance and Public Credit, José Antonio Ocampo, confirmed that the Government will seek to add 11 billion pesos to the General Budget of the Nation (PGN) project presented by former President Iván Duque for 2023, which would amount to 402 billion pesos.

(Social programs and PGN confront Petro and Duque governments again).

According to government calculations, This amount of additional money for the PGN would not require debt programs and would come from tax collection (8 billion pesos) and from resources that have not been used by some government entities.

For several weeks, the Ministry of Finance and President Petro himself had drawn attention to making a budget addition for social investments. A discussion was even opened between the Government and part of former President Duque’s team for the non-allocation of resources to programs such as Solidarity Income in the current project.

José Antonio Ocampo, Minister of Finance

César Melgarejo / Weather @cesarmelgarejoa

“The Duque government did not budget for the coming year an item of almost 10 billion pesos for transfers to people that were created due to the pandemic. They end on December 31. said President Petro, who assured that a larger budget item was necessary to attend to these programs.

(Minhacienda suggests to Congress to adjust the norm on the Budget).

As is known, in addition to social programs such as Solidarity Income, the resources that are added to next year’s Budget will seek to finance the implementation of peace agreements, programs to fight hunger, and science and technology projects.

In addition to financing expenses and investments, the addition of the Budget must be analyzed “Taking into account some financing deficits due to inflation, which implies extraordinary expenses”Ocampo said.

For now, the rubles are being analyzed to bring the proposal to speakers next Monday, confirmed the finance minister.

(Project of law of the General Budget of the Nation for 2023 is filed).


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