Kurt Burneo: “I urge Congress to carefully evaluate what is being approved”

Minister of Economy and Finance, Kurt Burneo urged Congress to evaluate all measures, including additional spending proposed by the parliamentary budget committee, included in the Law on Budget 2023.

“If we are not very prudent in terms of the expenses we make, the likelihood of financial management difficulties in the near future is definitely higher. I would like to issue this warning,” he said.

The Minister unveiled some macroeconomic indicators that coincide with World Bank and International Monetary Fundwhich warned of low growth and even recession in the larger economies.

With this panorama, Burneo tried to influence Congress to disapprove of additional provisions proposed by the same Parliament which imply contingencies in excess of S$1,614 million.

“That is why I urge Congress to carefully evaluate what is approved, and in any case, prudence is important in what is consistent with macroeconomic management, especially in times of great destabilization of the international economy,” he warned.

Additional costs are not funded

After his speech, the minister questioned the opinion on the bill State budget 2023 because “it’s supposed to be funded by an emergency fund, which implies a serious imbalance in spending that can’t be financed,” he told Latina.

In addition, he explained that the additional spending received by Congress is SGD 1,614 and “no funding”, this is of concern to the IEF as the Parliament’s proposal is to use the reserve fund, money saved for emergencies such how Natural disasters.

Finally, the minister reminded lawmakers that in order to spend more, you need to collect more, and in an economy that continues to recover, this is very difficult. In addition, he explained that fiscal sustainability Peru This allows you to have low country risk and one of the lowest interest rates among emerging economies and the region.