The 2022 Budget has $ 627,024 million less in current resources than last year, due to a series of adjustments for extraordinary income and modifications that were applied after the decree that ordered the extension.
According to the analysis of the Congressional Budget Office (OPC), for this fiscal year there are revenues for a total of $ 7,967,952 million, but fiscal year 2021 ended with $ 8,594,976 million.
The difference between the two periods is due to the fact that in 2021 there were two revenues that are not expected to be repeated in the current year, such as the $ 204,640 million of the Extraordinary Solidarity Contribution and the $ 422,174 million of the Special Drawing Rights (SDR) distributed in August by the International Monetary Fund (IMF).
The remaining $ 210 million correspond to a budget modification formalized on December 31, eight days after the publication of Decree 822 that ordered the extension.
In this regard, Law 24,156 of Financial Administration determines that, if it is necessary to extend the Budget by decree for the following fiscal year, the expenses and resources established in the law and the modifications established until the date of the regulation will be valid, without those that apply later may be incorporated.
The adjustments also had to be applied in the case of expenses, in particular the credits for $ 19,532 million corresponding to the Ministry of the Interior last year for the attention of expenses related to the development of the electoral process.
The changes in expenses and resources had as a consequence modifications in the projected fiscal result: the primary deficit (without the calculation of debt services) increases by $ 402,136 million in effect as of December 23 of last year, while the deficit increases financial is slightly higher, of $ 402,567 million.
In any case, it is a common practice of all governments to apply new modifications to the Budget during the year, either through Necessity and Urgency Decrees or through administrative decisions of the Chief of Cabinet.
The Executive Power had to resort to the extension by decree of the Budget after the opposition decided to vote against the official project in the session of the Chamber of Deputies on December 17, without leaving time for the debate of a possible new initiative.