translated from Spanish: Finance Minister delivered axes of the Budgets Bill 2020

The Minister of Finance, Felipe Larraín, and the head of Dipres, Rodrigo Cerda, presented this Friday details of the Budgets Bill 2020, an initiative that considers an increase in spending of 3% real compared to this year and that was presented last night by President Sebastián Piñera on a national network.» We are in the presence of a budget that will represent a strong impetus for economic revival and that is fiscally responsible,» stressed the holder of Hacienda.La authority added that next year’s era allows progress to three Dimensions. One, the commitments of the Government programme; two, the reduction of the structural deficit and three; boost public investment as one of the drivers of economic revival. The Director of Budgets, Rodrigo Cerda, added that the erario «properly manages to prioritize the social objectives set by the Government programme, by increasing more than US$2 billion and, in turn, meeting the need to reduce the structural deficit of our economy, being responsible in fiscal matters.» The Budget Bill 2020 envisages an increase in public spending of 3% real, which means an increase of US$2,133 million, reaching a total amount of US$74.169 million, and a growth of 6.8% of the investment. On the latter point, Larraín stated that an increase in sectoral investment is considered for the portfolios of the ministries of Public Works, Housing and Urban Planning, Health, Sport and Regional Governments of 7.5%, which allows to finance more than 2 thousand projects in all regions (not including GORe, which define their portfolio in the year), including airports, ports, reservoirs, roads, parks, public transport, train network and the national fiber optic highway.» We want public investment to leverage private investment,» said the authority, who reiterated that the Government is working in different dimensions to revive economic activity. In fact, today commented on the figures for the budget implementation in August, which reflect the positive impact of the Government’s Economic Acceleration Agenda, which already adds up to US$3 billion in public and private investment. According to Dipres data, Central Budget Government expenditures in August grew by 3.9% compared to the same month in 2018, while capital expenditures have increased by 11.2%.» Starting in July, we can see a tremendous boost in public investment (…) We have been with double-digit expansions in investment growth over the previous year for two months and this is in line with our Economic Acceleration Agenda,» said the Finance Minister.Larraín stressed that in the Bill, Education and Health both for their size of expenditure and for the contribution to growth, concentrating almost half of the resources in these two dimensions. During this afternoon, Minister Larraín, together with the Director of Budgets, delivered the document of the 2020 Budget Bill to the president of the Chamber of Deputies, Ivan Flores, at the former National Congress.



Original source in Spanish

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