Brazil & Southern Cone - November 2006 (ISSN 1471-4431)

Congress approved the budget on 16 November. The 2007 budget is the most expansionary since 1990, calling for spending of US$28bn, up 9% on the 2006 budget. The government's social spending, on health, education and housing is up by 11.2%. These three sectors of government spending account for 68% of the projected total spend in 2007. Primary healthcare spending alone will rise by 18% in 2007. In addition the housing budget is up by 10%, envisioning the construction of 137,000 new homes. The finance minister Andrés Velasco said that the challenge for the government now was to execute the budget properly so that all Chileans benefited from the increased spending.

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