since it involves a significant increase to close various social gaps and improve the quality of life throughout the national territory.
The high-ranking official attended a
Congress plenary session to support the Budget, Indebtedness, and Financial Balance Bills for Fiscal Year 2024.
"The increase in the budget for regions and municipalities is historic; this Government is committed to decentralization as it must be. Decentralization constitutes a permanent State policy that promotes the comprehensive development of the country," he indicated.
Otarola added that the proposal presented to Congress is a concrete and truthful expression, with a focus on modernity and public administration that is essential.
"This budget is the one that most increases public investment in regions throughout the entire history of Peru," he said, mentioning that the priorities to be addressed are: water-sanitation, education, and infrastructure.
The Cabinet chief indicated that the budget will also serve to reactivate Peru's economy and create new jobs.
Moreover, the Prime Minister stressed that Peru has a long history of responsible and prudent fiscal management.
Otarola specified that the budget designed by President Boluarte's administration consists of important elements, such as the priority towards vulnerable people, as well as the unlocking of large, medium, and small public works.
Concerning the amount allocated to the National Government, he indicated that it reaches about S/154 billion (about US$41.588 billion), a 9% increase compared to the 2023 budget.
"This figure contains the approach that President Dina Boluarte's Government has for public administration," Otarola pointed out.
The Prime Minister also said that regional governments rely on an allocation higher than S/52 billion (over US$14.043 billion), which accounts for a 20% increase compared to the 2023 budget.
In the case of municipalities, there is an allocation of around S/35 billion (about US$9.452 billion), meaning a 17% growth.