US EditionGovernment Fiscal Adjustment Plan Includes “Abuse” and Non-Budgeted Expenditure Review 2026
3 Articles
3 Articles
The fiscal adjustment plan is already under way. Finance Minister Jorge Quiroz signed an instruction to begin to finalize the plan to cut public spending, so ministers will have to start the review work. The instruction contextualizes the fiscal scenario that this new administration will have and therefore emphasizes the idea of reaching fiscal balance during the next administration. One of the phrases that is most repeated in internal conversat…
The adjustment includes a cross-cutting reduction in public spending, revision of contracts and “detection of abuses”, while the College of Teachers warns of a direct impact on the education system. A fiscal cut of up to $3.8 billion, a cross-cutting reduction of 3% of public spending and the order to detect “abuses and bad practices” mark the content of the office sent by the Ministry of Finance to ministries and public services, in one of the …
The Minister of Finance instructed the 24 portfolios of the Executive to apply a permanent adjustment of spending, with cross-cutting cuts, hiring freeze and contract review to order the fiscal accounts after the government of Gabriel Boric.
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