OPC 5 Budget Law 5 BUDGET BILL 2023 CHAMBER OF DEPUTIES’ APPROVAL

BUDGET BILL 2023 CHAMBER OF DEPUTIES’ APPROVAL

The amendments introduced by the Chamber of Deputies’ approval in the 2023 Budget Bill, provide for an increase in expenditures of ARS 567.700 billion, equivalent to 0.4% of the Gross Domestic Product (GDP).

Of these funds, ARS 244.413 billion will be used to finance cross-cutting policies, mainly food programs.

This increase is not included in the first Section of the Bill, so there should be decreases in other expenditures or new funding to cover it.

There is insufficient information available to assess the impact of changes in tax revenues.

If as of August 31, 2023, the cumulative inflation rate exceeds the annual target established in the Budget Bill by 10%, or if the National Public Sector revenues exceed by 10% those projected for the cumulative period, the National Executive Branch must submit a Supplementary Law to Congress and an expenditure plan for the fourth quarter.

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