LatinNews Daily - 03 September 2021

In brief: Guatemala’s finance ministry presents proposed 2022 budget

* Guatemala’s finance minister Álvaro González Ricci has presented the government’s proposed 2022 state budget for Q103.99bn (US$13.47bn), an increase of Q10.12bn on the current 2021 budget. González cited as priority ministries health, education, and the interior which would be allocated Q12bn, Q19.9bn, and Q6.47bn respectively, representing increases of 13%, 11.5%, and 17.8% respectively on the current budget. He also said that most of the spending (71.4%) would be financed by tax revenue which is expected to total Q74.3bn in 2022. He said that tax take as a percentage of GDP was expected to come in at 9.9% in 2021 and 10.7% in 2022, while the fiscal deficit was expected to close 2021 at 3.3% of GDP, dropping to 2.8% in 2022. Congress has until 30 November to approve the budget.

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