Guatemala: Lower Expenditures in 2010

Businessmen and analysts are requesting for the State's Expenditure Budget to be lower in 2010 than it was in 2008.

Wednesday, July 22, 2009

Jorge Lavarreda, director of the National Center for Economic Investigations, known as CIEN, considers that "the government should aim for a fiscal deficit lower than 1% of the Gross Domestic Product".

Lavarreda told newspaper Siglo XXI: "...what's more important is that macroeconomic conditions are evaluated, and projections from international organizations are taken into account, to avoid what happened this year, when unrealistic projections where made".

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Panama Approves 2016 State Budget

November 2015

40% of the $20 billion approved by the Legislature for the next year's budget will be allocated to investments.

Bill 225, which dictates the general state budget for fiscal year 2016, amounting to 20 thousand 106 million balboas, was approved on its third reading by the plenary of the National Assembly.

Guatemala: 2011 Budget is $6.55 Billion

August 2010

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

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".

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.

Guatemala: 39% Less Public Investment in 2010

September 2009

Scheduled investment for 2010 sums $434 million, 39% less than the $714 million earmarked for 2009.

Under the current 2010 Budget draft, the Ministry of Communications and Public Works would receive the largest investment funds.

This budget aims to boost production in the country, through anti-cyclical policies that trigger economic recovery, insisted the Treasury Minister.

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