2012 budget approved by Peru’s Congress
LIMA – Peru’s 2012 budget for the national, regional and local governments was approved by Congress on Friday.
The budget has approved S./95.53 billion soles (about US$35.38 billion) for 2012.
This is a higher budget that that approved in November 2010 for 2011 according to a report by Andina, which was approved at S./88.46 billion.
51 Congress members voted in favor of the budget. No votes were made against it, but 39 abstentions were recorded.
The 2012 budget will prioritize projects and initiatives aimed at social inclusion. Projects tackling malnutrition, poverty and health and education services will be favored.
Peru’s Congress also used the session to pass the General Debt Law and the Financial Balance Law.