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This Friday, September 2, projects Budget, debt and financial balance for 2023 at the plenary session of the Congress.
Via Twitter senior official Congress issued an agenda for the convening of an extraordinary session, which will be attended by the head of the Ministry of Economy and Finance Kurt Burneo and the chairman of the Council of Ministers Anibal Torres.
Economics Minister Kurt Burneo will have to support the projects the state budget proposed for 2023, which were approved last week in the Council of Ministers.
As indicated, the exhibition within the framework of the plenary session of the Congress is planned to be held on September 2 at 10:00 in the meeting room.
What does the budget for 2023 propose?
The Fiscal Year 2023 Public Sector Budget Bill submitted to Congress indicates that the resources to be allocated for the following year will amount to SGD 214,790 million.
According to what was stated executive branchthe figure represents a 9% increase over 2022 resources, i.e. they are S/17,788 million more than what was set for this year.
The priority sectors will be education, health and transport, which account for 40.6% of the initial 2023 budget.
“Elevation budget that’s 9%, but in real terms that means an increase of about 4%. This increase is possible thanks to the development of the economy, significant tax revenues from mineral prices that remain at an interesting level, and the economic recovery plan that we are about to present,” Minister Burneo said a few days ago.
The legislative initiative sent by the executive branch also indicates that more funds will be delivered to the regions and local governments next year, which will grow by 16.4% and 38.1%, respectively.
When will the budget be determined?
After Minister Kurt Burneo presents bill budget prior to the plenary session of Congress, ministers will also be invited to the Budget Committee to support the resources that are requested for their sectors.
The initiatives must be discussed by the Congress, which may add other works or projects to be analyzed in the above-mentioned commission.
Finally, the 2023 budget law, with comments set by Congress, must be approved in plenary before the end of November this year.
Source: RPP
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