December 6, 2013
Senate comission approves 2014 Budget
The Federal Government obtained the endorsement needed to approve the 2014 Budget bill in the Senate commission. The financial package hence will be voted on in a session of the Upper House scheduled for October 9.
Following nine hours of debate, the government's projections and proposals for the coming year passed the Budget and Federal Co-participation Committee, where Deputy Minister of Economy Axel Kiciloff was present with Treasure Secretary Juan Carlos Penzoa and Financial Adrián Cosentino.
Kiciloff affirmed that:“Our budget for next year is going to be more expansive. That will allow us to take a deeper look at what has been done in order to sustain the intern demand”.
In addition, he predicted that “next year will be a little better” in terms of growth.
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.