President Pedro Castillo announced that the Minister council passed the bills for BudgetFinancial Balance and Indebtedness for 2023.
These documents, which would be sent to Congress in the next few hours, prioritize the sectors of health and educationHow many resources will be granted?
According to the Minister of Labor and Employment Promotion, Alexander Salasthe 2023 public budget project amounts to more than S/ 214 billion.
The figure is 9% higher than the budget established for this 2022, that is, S/ 17 billion more than this year would be delivered.
According to Salas, the minister Kurt Burneo explained to the Council of Ministers that this increase is due to the country’s economic reactivation and to growth “which can always be better.”
In addition, he indicated that the resources will be concentrated on projects that allow covering gaps of infrastructure in areas where there are greater needs, especially in the Health and Education sectors, an item that always tends to receive the largest transfers.
It should be remembered that this budget bill is defined taking into account the Multiannual Macroeconomic Framework (MMM)a document that contains economic projections for the coming years.
In the recent presentation of the MMM, Burneo commented that in real terms the public sector budget by 2023 it would grow 4% compared to this year.
“Certainly there will be a growth of the public budgetIn real terms, growth will be 4%, which is not an exaggeration. But the most important thing is that the budget has been considered maintaining the authorized fiscal deficit line for 2023, which is 2.4%,” said Burneo.
It is worth mentioning that the amount raised by the MEFand approved by the Executive, might vary.
When will the budget be defined?
After the approval of the draft budget in the Council of Ministers, the Government must present the initiative to the Legislative power.
Then, in September, Minister Kurt Burneo would have to attend Congress to support the bill of budget before the plenary session and subsequently the ministers who are invited to the Budget Commission to support the resources that are requested for their sectors.
The initiatives must be debated by the Congresswhich can add other works or projects that will be analyzed.
Finally, this 2023 budget law should be approved in the plenary session of Congress before the end of November.
