The ruling Victory Front has obtained the Budget Committee’s approval for their proposed 2014 spending plans and the extension of emergency economic laws, which will be voted on in the Lower House in one week.
“The government’s policy has been consistent and secure. Public spending has been used as a tool for social redistribution”, declared the committee head, Roberto Feletti.
The new proposals faced criticism from opposition politicians, who questioned macroeconomic projections for growth and insisted that the figures pointed to the necessity of austerity measures.
However, consensus was achieved thanks to the Santiago del Estero Civic Front and the New Encounter parties, long-term allies of the electoral front headed by president Cristina Fernández de Kirchner.
Next year’s budget estimates a growth rate of 6.2%, an increase in consumption of around 5.7% and an exchange rate of 6.33 pesos per dollar. Taxes on cheque transactions and cigarettes will also be extended.
Source: Buenos Aires Herald