Tuesday, 13 September 2022 17:09

General Budget 2023 to be known this month, social, economic and the gap will be the challenges

Written by Coralia Cuellar

Every september, the Ministry of Finance must present the draft of the General Budget of the Nation for next year.

This must be presented to the Legislative Assembly so that the deputies may discuss it and subsequently approve it.

In the last press conference given by President Nayib Bukele, he said that one of the big bets for this year is education, children and the attack to poverty, attraction of investments, as well as the fight against insecurity.

The Ministry of Finance has until september 30 to submit to the Legislative Assembly the Bill for the General State Budget 2023; it will be the Finance Commission who will begin to discuss it in order to prioritize the issues that best suit the country.

Last year, the Proposed Budget amounted to $7,967.7 million, an increase of $544.1 million or 7.3% over the budget voted in 2021. Other challenges continue this year, just as in 2021 was the pandemic.

The Legislative Assembly approved in december 2021, with 64 votes, the 2022 General Budget of the Nation, which amounted to $7,967.7 million, with a budget gap of US$498 million. Most of the funds were allocated to health, education with social inclusion and effective security. These items were allocated 43.2% of the total budget, equivalent to 11.9% of the Gross Domestic Product.