The Public Sector Budget Bill for Fiscal Year 2024 exceeds S/240 billion (over US$64.864 billion) —an amount that represents a 12% growth compared to the Opening Institutional Budget (PIA) for 2023, the
The bill submitted to the Legislative Branch last Tuesday prioritizes the following aspects: water and sanitation; health; education; social protection; emergency response; plus boost to order and security.
Water and sanitation: This historic budget totals S/6.402 billion (about US$1.730 billion). Said figure represents an increase of 7% compared to the PIA 2023 and the highest amount in the last 12 years.
Health: The budget allocated to the health sector amounts to S/29.474 billion (about US$7.966 billion), which represents a 9% increase compared to the PIA 2023.
Education: The budget allocated to the education sphere amounts to S/46.506 billion (about US$12.569 billion), an 11% increase compared to the PIA 2023.
Social Protection: The budget allocated for social protection amounts to S/9.307 billion (about US$2.515 billion). It expanded 19% compared to the PIA 2023 —a historic growth.
Emergency Response: The budget for actions amounts to S/2.644 billion (about US$715 million). This budget is the highest figure recorded in the last 12 years.
Order and Security: The budget to be allocated for actions reaches S/16.213 billion (about US$4.382 billion). This is the highest budget registered over the last 12 years.
The whole budget also incorporates record financing for subnational governments, being the most decentralized budget since 2002 —the year in which the decentralization process began.
In 2024, 57% of the budget, excluding budget items that cannot be decentralized, will be linked to regional and local governments.
(END) NDP/MVB