OPC 5 Budget Law 5 Considerations on 2020 Draft Budget Progress Report

Considerations on 2020 Draft Budget Progress Report

July 31, 2019

The Progress Report on the Draft Budget for 2020 estimated that 2019 will close with a 0.8% drop in the Gross Domestic Product and a stable primary balance, records that will improve next year.

For the following fiscal year, the government document predicts a strong increase of 3.5% of GDP and a primary surplus of 1%, although without specifying the expected variations in consumption, investment, and imports.

According to the government’s estimate, in both years there will be an increase in exports and the financial deficit will persist, but declining.

Inflation would be reduced to 26.1% by 2020, but the projection does not include values for the exchange rate or the interest rate.

Net public debt will fall in relation to GDP from 49.4% this year to 45.9% next year.

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