Peruvian
Economy and Finance Minister Kurt Burneo on Thursday estimated that the public sector budget for fiscal year 2023 will increase 4% (in real terms) compared to this year.
"The public sector budget will certainly grow. It will increase 4% in real terms, which is not exaggerated. Most importantly, the budget has been calculated keeping the fiscal deficit authorized for 2023 in line, which is 2.4%," the minister stated.
"The sectors decide which projects are prioritized, not us. I will present the budget bill today in the Council of Ministers, so it would be wrong if I use the media to share announcements that I have to make before the State ministers and the President of the Republic," he added.
During the presentation of the Multiannual Macroeconomic Framework 2023-2026, Burneo explained that the first priority of the
Ministry of Economy and Finance (MEF) is to prepare the Multiannual Macroeconomic Framework, whose projections serve as the basis for formulating the public budget for the following year.
"The fiscal policy is carried out by the MEF, which assesses or manages tax revenues and expenditures in order to prepare the General Budget of the Republic," the government official remarked.
"In addition to evaluating the regular resources, we need to know how much debt must be used to finance the budget," he added.
"Regarding public finances, we can see a number of assumptions, which are key elements for the preparation of the General Budget of the Republic, such as the exchange rate, exports, imports, inflation, among others. At the end of the day, the budget implies spending in the State," the Cabinet member underlined.
It should be noted that every year the Executive Branch presents the Public Budget Bill to Congress for its debate and subsequent approval.
The deadline to submit said document to Parliament is August 30 each year.
(END) CNA/RMB/MVB
Published: 8/25/2022