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LatinNews Daily - 25 November 2022

In brief: Chile’s senate approves 2023 budget

* After three days of debate, Chile’s senate has voted to approve the draft budget for 2023 that was submitted by President Gabriel Boric’s leftist government in September. The Cl70.8trn (US$77.7bn) budget proposal is the first of Boric’s presidency, and it shows his ambition to drastically increase public spending based on three key priorities – improving economic growth, public safety, and social security. The budget now passes back to the chamber of deputies, which approved a more different version of it on 17 November. If the lower chamber does not ratify the version approved by the senate, a harmonisation process will begin to produce a budget agreed upon by both chambers of congress.

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