LatinNews Daily - 30 September 2022

In brief: Chile’s Boric unveils 2023 budget proposal

*Chile’s president Gabriel Boric has unveiled his government’s proposed budget for 2023, the first budget since his leftist government took office in March 2022. He said that the proposed budget would increase public spending by 4.2% compared with the 2022 budget which was approved for Cl$60.7trn (US$63bn) under the right-of-centre previous administration led by former president Sebastián Piñera (2010-2014, 2018-2022) and represented a 22.5% decrease in real spending. Boric said that the proposed budget had three priorities: to boost economic growth, public safety, and social security. The budget will allocate Cl1.6trn to infrastructure and Cl38bn to fighting organised crime among other things. It now goes to the national legislature which has 60 days to approve it.

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