The Salvadoran State tax obligations for 2023 are covered

The Minister of Finance, Alejandro Zelaya, assured yesterday that the project of the general budget of the state has covered all the general obligations of the fiscal year of next year.

«The country is going to fulfill each of its national and international obligations,» Zelaya told the deputies of the Legislative Assembly’s finance committee when explaining the upcoming budget project, which amounts to $8,902.7 million, of which $667 million corresponds to the payment of the bonds, $7,763.3 million to income and others, and $472.4 million to the budget gap.

Zelaya affirmed that the payment of pensions, social programs, litigation, payment of the external debt, transfers to institutions, the return of the value added tax (VAT) to exporters, as per the Central Bank reports, have been guaranteed for 2023. The BCR and the service of the public debt

Also, he explained to the deputies that the areas of education, health, and public safety continue with a strong investment (an additional $3,471.9 million), which represents approximately 40% of the total for the fiscal year.

The general budget of the state for next year includes $686 million for social programs and $137 million to continue the subsidy developed and granted by the government of President Nayib Bukele.

In addition, he contemplates an investment of $1,501.9 million in the education portfolio, which represents 5% of the gross domestic product (GDP).

$1,131.2 million, equivalent to 3.7% of GDP, is allocated to the public health area. While for public security and defense, the total allocation totals $838.8 million, which will finance the successful Territorial Control Plan (PCT).

The public works area has a budget of $679 million, which will be oriented to the execution of important and modern road and social infrastructure projects in the three zones of the country.

Likewise, $183 million will be used to finance child and adolescent care programs, within the framework of the work carried out by the office of the first lady, Gabriela de Bukele.

A total of $1,739 million is foreseen for investment projects and programs that will generate greater economic growth in the country. The finance commission will continue the analysis this week.

Source: El Salvador in English.