The Finance Committe of the Chamber of Deputies will discuss the Budget 2012 on Wednesday

Argentina, October 2, 2011

On Wednesday, the Budget and Finance Committee of the Chamber of Deputies will discuss the draft of the Budget for 2012, with the presence of RobertoFeletti, Vice Minister of Economy and Juan Carlos Pezoa, Secretary of the Treasury. 

The meeting will start at 10.30 am and will be the first of four or five meetings to be held.

On 15 September, the Economy Minister Amado Boudou presented the proyect in front of the legislators, in an exhibition aimed to highlight the main lines of the same.

The Front for Victory intends to approve it before the legislative turnover. For its part, the opposition blocks anticipated that they are willing to discuss the content of the initiative.

The last budget for 2011 did not have proper parliamentary approval, so the Government is working with the extension of the 2010 budget. However, sources say that “this year it will be approved”.

The Budget for 2012 envisages a GDP growth of 5.1%, inflation of 9.2% and a rate no higher than $ 4.40 against the dollar. Public spending will increase by 18.8%, investments would come to 17.9% and would have a fiscal surplus of 2.2%.