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Budget 2023: National Government filed budget for 2023 for $ 391.4 billion | Economy

The national government presented to the Congress of the Republic the 2023 budget for $341.4 billion, which includes the cost of servicing the public debt for $78 billion and $19.1 billion to cover the deficit of the Fuel Price Stabilization Fund.

The Minister of Finance, José Manuel Restrepo I affirm that of this figure, $250.6 billion corresponds to operating expenses, $78 billion to pay the debt service and $62.8 billion to investment and that as a percentage of GDP, the budget is equivalent to 27%.

The Minister of Finance, José Manuel Restrepo stated that the sector of health will have $49.0 billionThis year, it will have the second largest participation in the total budget without debt, surpassing the defense sector and behind the education sector, which will have the greatest representation, with $56.5 billion.

“The project was formulated under strict operational austerity criteria, in line with compliance with the fiscal rule and overcoming the economic and social consequences left by the pandemic,” he commented.

The minister highlighted that in the payment of pension allowances it will go from $50.7 billion in 2022 to $56.0 billion in 2023, 10.3% more and health insurance from $26.9 billion to $32.7 billion, that is, 21.6% more, which will be used to ensure the provision of health services in this time of pandemic.

“The PGN 2023 is programmed in accordance with the country’s real financing possibilities, in a global environment of uncertainty and inflationary pressures that tends to raise the cost of interest on the public debt and threatens to reduce the dynamism of economic growth; while underscoring the relevance of maintaining the state investment required to responsibly overcome the social and economic consequences left by the pandemic,” Restrepo commented.

Finally, the Minister of Finance stated that next year’s budget also includes resources to finance programs such as Colombia Mayor, Jovenes en Acción and Familias en Acción and VAT compensation, and meet the needs of households in situations of poverty and vulnerability throughout the national territory.

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