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LatinNews Daily - 23 November 2021

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In brief: Chile’s congress approves 2022 budget proposal

* Chile’s lower chamber has approved the government’s proposed 2022 state budget, which is for C$60.7trn (US$82.1bn). This represents a 3.7% increase on the approved 2021 budget, but actually equates to a 22.5% reduction in real spending this year, as extraordinary expenditures related to the coronavirus (Covid-19) pandemic are expected to bring the 2021 budget execution to Cl$78.2trn (US$99.56bn). The government led by President Sebastián Piñera highlights as priorities: health (the budget for which will increase by 11.6%); children (the social development & families ministry received a 12% increase); and public investment (the government highlights increases of 11.6% and 8% for the ministries of public works and housing respectively), among other things. Finance Minister Rodrigo Cerdo also said that the budget was in line with the government’s priority of “fiscal sustainability”.