Public Works: Investment Could Be Disrupted

With the deadline for Congress to approve the 2020 public budget expiring, the Guatemalan government must work with the 2019 budget, so some investments in public infrastructure could come to a halt in the first months of the year.

Monday, December 2, 2019

Last November 30, the deadline for the Congress of the Republic to approve the draft budget of income and expenditures of the nation for 2020, which amounted to Q91.9 billion ($11.9 billion) and was not endorsed by most deputies.

You may be interested in "Road Infrastructure: Projects for $3.3 Billion"

José Luis Benito Ruiz, Minister of Communications told that in this context, he sees the panorama complex, because in the case of the Ministry that he directs "... When the same budget remains in force for 2020, 100% of the works must be reprogrammed and no matter how efficient the planning units of each executing unit are in March, the programmed expenditure would be, and April would be the execution."

Benito added that this situation "... would imply that since January there would have to be readjustments of works and the other is that the sources of financing are not assured in the budget so they must make the replacements and update them."

The 2020 budget contemplated a $150 million loan that would be granted to the country by the Inter-American Development Bank and with its non-approval, the communications portfolio would not have funds to face some works.

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More on this topic

Guatemala: More Debt, But More Investment

August 2017

The Morales administration plans to increase indebtedness next year, but with the objective of generating a "shock" of growth in investment in public infrastructure.

In the 2018 budget, the Ministry of Finance plans to increase indebtedness and consequently the fiscal deficit, but with the purpose of increasing investment in road infrastructure, such as roads and bridges. In the 2018 draft budget, the debt ceiling could reach $11.9 billion.

Guatemala's State Spending Plans for 2017

November 2016

In the budget approved by Congress, $530 million has been allocated to the Ministry of Communications, Infrastructure and Housing.

From a statement issued by the Congress of Guatemala:

On Tuesday the Congress approved, with 115 votes, Decree 50-2016, which contains the Revenue and Expenditure Budget of the Nation for Fiscal Year 2017, amounting to almost $10 billion (309 million 451 thousand Q77 mil), although the Commission of Public Finance and Currency had decided Q76.9 million based on the proposal submitted by the Executive Agency.

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 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.

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