Will the Government respect the Law on Fiscal Responsibility?

He People’s government guarantees to adhere to 3%, until 2023, as determined Law on Fiscal Social Responsibilitysaid Deputy Minister of Economy, Carlos González Miranda.

“That is what we guarantee to the risk assessment agencies, that we will have favorable situations that will allow us to close with that 3 percent,” he said.

For this 2024, the estimated deficit in the budget is at most 2 percent, he said Deputy Minister of Economy.

González pointed out that several scenarios will be presented in 2024: “The last one that was used as a reference was real growth not less than 2.5%”.

He added: “We always use the floor, not the floor Stop. We are working with that scenario which means nominal growth, which is seen in the budget of 5% or a little more.”

This is also reflected in the rate unemployment which was 7.4% until August 2023. “That is, there was a decrease of 11 percentage points between August 20, 2020 and August 2023.”

“This gives us the interesting information that by August 2023 population employed amounted to 1,938,616 and already slightly exceeded the one from August 2019, by 1,920,642 formal jobs, the Deputy Minister pointed out,” he said.

At the same time, informality became an interesting phenomenon, a product of aid programs that were given through banking and Authority for Micro, Small and Medium Enterprises (AMPYME) which reduced the informality rate from 52.8% in 2019 to 47.4% in 2023, Deputy Minister González concluded.