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Government creates a new regime for recognition and payment of debts in arrears

The Economic Commission of the Council of Ministers approved this Monday a diploma that creates a new regime for the recognition and treatment of delayed debt that will allow the correction of the value of credits at market prices.

: Lusa
Lusa  

According to a statement to which Lusa had access, the presidential decree approved Monday aims to define an "inclusive and transparent strategy for the settlement of arrears incurred by the Budget Units" and ensure a more rigorous management of public finances.

The decree defines the rules for the recognition of arrears, the role and responsibilities of each intervening body in the strategy to settle them and the criteria for payment, including the publication of information on the universe of claims and payments made in each fiscal year and establishes the possibility of correcting the value of claims at market prices.

This Monday's meeting also approved the balance report of the National Development Plan 2018-2022, referring to the II quarter of 2021, noting that the 70 programs had a degree of execution of 58 percent.

The Economic Commission also approved the rationale report on expenditure limits for preparation of the State General Budget 2022.

"The exercise of fiscal projections for the year 2022 recommends that fiscal policy continues with the strategy of consolidation of public finances, which combines the commitment in tax collection with rigor and quality in the execution of expenditure to economic recovery," reads the document.

Commission members also analyzed the balance of payments and international investment position report for the 1st quarter of 2021, according to which the current account of the balance of payments registered a surplus of 1,974.6 million dollars, equivalent to 12.2 percent of GDP, which represents an increase of 346.9 percent in relation to the previous quarter, justified by the "good performance of the goods account.

Still within the scope of Public Finance, the Economic Commission preliminarily appraised the report of the execution balance of the OGE 2021 referring to the second quarter and approved the execution report of the financial programming of the National Treasury referring to the third quarter of 2021.

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