Lower House passes 2013 Budget bill

The Lower House of Congress passed the 2013 Budget bill in a special session held yesterday which ended with a high majority approving the bill and sending it to the Senate.

"This is not a budget whose figures are defined at the IMF’s offices, but has been designed by Argentines and for Argentines,” the head of the Budget Committee of the Lower House Roberto Feletti said as he spoke during the debate.

“This budget is consistent enough to face the consequences of the international crisis, and contrasts against other international budgets such as the Greek one, which features cuts worth 15 billion euros,” he added.

Opposition members including Radical Party and Civic Coalition lawmakers criticized the budget ahead of the vote, and Progressive Front lawmaker Alicia Ciciliani previously announced the caucus would vote against the budget.

For next year, the government estimated 4.4% economic growth, annual inflation of 10.8% and an official dollar rate average of 5.10 pesos.