Economy 03-08-2018

Guatemala increased budget execution in seven months of 2018 and with transparency exceeded that of 2017

Guatemala improved budget execution in the first seven months of 2018 and with total transparency exceeded that recorded in the same period of the last two years, said an official source.

In the seventh month of the year, 39,611.1 million quetzales were disbursed from a current budget of 77,211.1 million quetzales and this represents an execution of 51.30 percent, according to the System of Integrated Government Accounts (Sicoin).

The disbursement is higher than that registered in the same period of 2017, when a budget of 77,384.2 million quetzales was disbursed 48.04 percent.

It is also greater than the execution of 2016, when a ceiling of 71,068.2 million quetzales was paid 49.50 percent.

The rate of budget spending to July 2018 is similar to that of the last two years of the previous government.

In 2015, for example, of an amount of 70,715.4 million quetzales, 52.26 percent was disbursed. While in 2014, of a current budget of 68,485.4 million tickets, 51.56 percent was spent, according to the Sicoin.

At the end of May, Finance Minister Julio Héctor Estrada assured that "a recovery in the speed of spending" was taking place and said that by the end of 2018, "a lot more" would be executed than in 2017.

According to Estrada's projections, by the end of this year the execution of the nation's budget will be between 95 and 96 percent. While the last year was around 91 percent.


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