Guatemala: 2011 Budget is $6.55 Billion

The Ministry of Finance will send Congress its 2011 state budget in the next two weeks.

Friday, August 20, 2010

According to Édgar Balsells, Guatemalan Finance Minister, tax and non-tax revenues are forecast to be $4.96 billion, higher than the $4.23 billion predicted for this year.

In order to increase revenues, Balsells explains to Siglo Veintiuno that, "part of the plan is for the national Tax Revenue Authority (SAT) to 'toughen controls' but it also takes into account the impact of the anti-evasion law, currently pending approval by Congress".

More on this topic

Guatemala Approves Budget of $8.52 billion

October 2012

The General Budget for Revenues and Expenditures for fiscal year 2013 has been approved by the Congress of Guatemala through an express approval.

The law provides for tax revenues of $6.42 billion, placement of treasury bonds for $689 million, external borrowing of $932 million and $463 million in non-tax revenues and grants.

Guatemala To Face 2010 With a 2009 Budget

December 2009

Guatemala's public finances face a tough scenario for 2010, after Congress rejected a proposed larger budget.

In 2010, a politically weakened Guatemalan Government will be obliged to find financing to cover an expected $770 million fiscal deficit.

It will be tough to achieve such goal without compromising the country's macroeconomic balance and sovereign debt ratings, so there will probably be important cuts in public spending.

Honduras Needs $597 Million to Cover 2010 Budget

December 2009

For each Lempira spent in 2010, the Government needs 22 cents from international aid.

"Expenses for 2010 sum $3.59 billion, which will be financed ... with tax revenue..., internal credit and $597.9 million from international aid", reported Elheraldo.hn.

The upcoming administration, headed by president-elect Porfirio Lobo, is worried by international organizations freezing credit to the country in light of the political incidents of June 28.

Panama: 2011 Budget is $13 Billion

July 2010

The ministerial council has approved the state's budget proposal for the 2011 fiscal year.

The proposal is 46% capital expenditure, an increase of 4% on 2010 when it was 42%. This is consistent with the Martinelli administration's policy of prioritizing investment over operating costs.

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