Paraguayan President enacts general budget for almost US$15 billion

The President of Paraguay, Mario Abdo Benítez, enacted this Thursday Law number 7,050 of the General Budget of the Nation for the fiscal year 2023, for a total of 105.3 trillion guaranies (close to US$15 billion).

The same was approved with modifications by the National Congress and differed by 2.6 trillion guaranies from the original proposal submitted by the Executive Branch and prepared by the Ministry of Finance (102.7 trillion guaranies).

The modifications introduced by the Legislative Branch include salary increases, appointments, promotions, and the creation of new positions for public officials from the second half of the year, amounting to between US$30 and 40 million, which will be financed through reallocations, as reported by the Ministry of Finance.

Paraguay’s Minister of Finance, Oscar Llamosas, stated that for the fiscal year 2023, the intention is to maintain the average investment of recent years, for which strategic projects have been identified, such as road infrastructure, buildings, urban reconversion, housing, water, and sanitation, among others.

These projects will contribute to the country’s future growth due to their high economic and social impact, explained the official.

He added that the efficient provision of road infrastructure and its maintenance is one of the most important aspects that the Paraguayan government considers for the progress of society since they directly impact economic activity and productivity in the long term.

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