December 13, 2013
Benefits energy, transportationWednesday, August 21, 2013
Federal budget expanded by 23.2 billion pesos
The federal government has expanded the federal budget by 23.160 billion pesos, devoting additional funds toward electric energy, hydrocarbons and subsidies for the public transport sector. The measure was implemented through an emergency decree published yesterday in the Official Gazette.
The money was obtained mainly from unexpected Central Bank utilities of up to 12 billion pesos. In addition, the reduction in the amount of money designated to pay GDP bonds freed up cash to expand the budget.
ENARSA energy company will receive almost 9 billion, receiving the largest increase of any other state agency. The money will be used to pay for obligations “relating to the energy supply,” according to the decree. Other companies of the energy, mining and industrial sectors will receive 14.2 billion pesos.
The Planning Ministry will receive an additional 8.3 billion pesos, which will also be destined for energy through the CAMESSA wholesale electricity market administrator. The ministry also raised its expenditures toward the “Techo Digno” low-income housing programme, the National Highway Board and the vehicle policy’s management office.
The Health Ministry will increase its expenditures by 1.5 billion pesos, followed also by increases in the Defence Ministry, Agriculture Ministry, Legislative Branch and the General-Secretariat of the Presidency.
The additional cash will also go to airplane and buildings maintenance, subsidies for non-governmental organizations, repairs on the Bellas Artes National Museum and the National Library and subsidies for oil, transport and train companies.
Herald with DyN