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LatinNews Daily - 27 October 2022
In brief: Argentina’s lower chamber approves 2023 budget proposal
*Argentina’s chamber of deputies has approved the proposed 2023 budget for Ar$29trn (US$186.6bn). The budget, which was approved by 122 votes in favour and 22 against, estimates that GDP will grow by 2% next year, while the annual inflation rate was pegged at 60%. It projects tax take will come in at Ar$22.5trn, leaving a primary deficit of Ar$6.3trn. In its breakdown of proposed spending, the 2023 budget proposal assigns Ar$1.6trn to governmental administration, Ar$1.2trn to defence and security, Ar$18trn to social spending, Ar$4.5trn to economic services, and Ar$2.9trn to public debt. The proposed budget now goes to the senate for approval. Last year Argentina’s lower chamber unexpectedly rejected the government’s 2022 budget proposal, citing unrealistic macroeconomic targets, prompting the government to extend the 2021 budget.
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