According to a note published on prensalibre.com, in 2008 around $10 million was utilized.
"Rosa Maria de Frade, a lawmaker from the Guatemala Party and ex-secretary of Social Communication for the Presidency, emphasized that the Government will have to establish priorities and measures to deal with the crisis.
'Social investment should be a priority, and I believe that Q137 million for a year exceeds any amount that was invested in the past'."
The Guatemalan Congress needs to urgently approved the 2009 budget starting today.
The budget for $6.5 billion (Q49.7 billion), according to opposition lawmakers, includes $13 million (Q104 million) for Government publicity, assigned to 33 NGOs, including $1 million (Q8 million) for one created only last week, and for the strengthening of Cohesion Social, which has been difficult to supervise.
The Finance Ministry presented the issue plan to bankers and investors.
Starting September 1st, public auctions will be carried out in the Stock Exchange, in which state companies, banks and private investors will participate.
"Those intending to invest in this securities have two options: they can approach the Central Bank and purchase bonds by themselves, with a minimum of Q10.000 ($1.214), or they can go to a stock broker and invest a minimum of Q5.000 ($607). In both cases, the investment can increase in multiples of Q100 ($12)", reported Prensalibre.com.
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