Budget 2022: the main unknowns left by the project that Martín Guzmán presents today in Congress

Share your love

The Minister of Economy Martin Guzman This Monday has a hard test in Congress, where it will be presented to defend the official calculations of the 2022 Budget before the renewed Budget and Finance committee of the Chamber of Deputies.

The unknowns of the 2022 Budget go through difficult goals to meet: the project includes an estimate of inflation at 33%, that for private consultants it can even reach 60%.

Read also | Budget 2022: Martín Guzmán today defends the official calculations and the deputies hope that he will give clues about the agreement with the IMF

In addition, in the official text appears the official estimate of GDP growth of 4%, when the International Monetary Fund (IMF) states that the economy can add 2% or 2.2% in 2022.

On the other hand, contemplates a deficit of 3.3%, a considerable drop since this year, and it is not known how Guzmán will achieve it without adjusting expenses.

To make up the vice president Cristina Kirchner The Minister of Economy stated in a meeting with trade unionists in the CGT that will not sign with the IMF “No adjustment agreement because it would mean preventing the economic recovery from continuing ”.

“The reduction of the primary deficit is the result of a expected improvement in collection, with a more progressive and sensible tax system, and a substantial drop in debt interest payments thanks to the historical restructuring of Argentina in 2020 ″, they remarked from Economy when sending the official project to Parliament, almost three months ago.

What the 2022 Budget says about the dollar, the possible agreement with the IMF and growth

The draft Budget 2022 foresees a dollar to $131.10 and discounts a agreement with the International Monetary Fund (IMF) to reschedule debt payments for US $ 45,000 million with the multilateral organization.

Read Also   Norway is looking for professionals and offers salaries of up to $ 100,000 per year: what positions are they and how to apply

Although there were differences in the Frente de Todos with the initiative the Minister of Economy is expected to present the same guidelines in Congress submitted last September.

In the message to Parliament, Guzmán left a warning about the devastating consequences for the country that he would have to pay the Fund for everything he committed: US $ 19,000 million.

The 2022 Budget also foresees a 4% growth of the Gross Domestic Product (GDP), with a 4.6% rise in private consumption and 3.1% in public consumption.

The project also estimates an average salary increase of 38%, which according to official forecasts would outweigh the price hike contemplated for next year.

What the 2022 Budget says about investments and exports

One of the keys to getting out of the economic and social crisis generated by the coronavirus pandemic is through the investment. According to the project sent to Congress, it is estimated that in 2022 it will be a 6.6% higher than this year.

In the case of exports the estimate is that will increase 7.5% compared to this year, while the forecast for imports is to grow 9.4%. In that case the trade balance would be US$9323 millones.

Article Source

Share your love