LatinNews Daily - 30 August 2022

In brief: Peru’s government presents draft budget for 2023

* Peru’s economy and finance ministry (MEF) has submitted the draft budget for 2023 to congress, proposing PEN214.8bn (US$56bn) in spending – an increase of 9% on the 2022 budget. Economy and finance minister Kurt Burneo said that “the increase in the budget is 9%, but in real terms this signifies an increase of around 4%. This increase is possible thanks to the evolution of the economy, to the important tax revenue stemming from mineral prices… and to the economic reactivation plan that we are going to present.” The draft budget prioritises spending on education (19.5% of total spending), health (11.5%), and transport (9.5%). According to an MEF statement, it has “a more decentralised focus,” proposing a 16.4% increase in funding for regional governments and a 38.1% increase in funding for local authorities.

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