Government changes Budget 2012
12/12/2012 00:00
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The government passed a normative act that changes the Budget 2012 by
increasing the debt. According to the government, the budget deficit
increases with 7.2 billion ALL from the prediction.
This intervention was dictated by the failure to collect revenues. According to the official data, in the first ten months of the year the government will have 19.4 billion ALL less from the budget taxes.
Being in this situation and unable to cut costs, the government is obliged to increase deficit.
With this decision, the public debt goes to 61% by the end of this year, from 59.9% that it was initially calculated and 60.5% that it was decided later, when the government was obliged to pay for imported energy.
The public debt increase opens a legal debate, since the opposition claims that the debt limit is violated before the law that removes the limit is approved.
Secondly, the 61% level puts in danger the limit predicted for the debt of the next year, for which the government says that is around 62.6% of the GDP.
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