Urgency to Finance $375 Million of Guatemala's Budgets
The government urged the Assembly to approve the sale of $375 million in treasury bonds in order to fulfill its commitments.
Monday, July 6, 2009
The government needs these resources to amortize external debt, pay for approved construction projects, and finance the issuance of a new identification document in use since July 1st, according to the Guatemalan Minister of Finance (Treasury), Alberto Fuentes Knight.
The General Budget for Revenues and Expenditures for fiscal year 2013 has been approved by the Congress of Guatemala through an express approval.
Guatemala's public finances face a tough scenario for 2010, after Congress rejected a proposed larger budget.
The Ministry of Finance will send Congress its 2011 state budget in the next two weeks.
40% of the $20 billion approved by the Legislature for the next year's budget will be allocated to investments.
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