A budget proforma is almost ready to be checked by the Presidency

Once they received the budget projections of the various entities of the State, the authorities of the Ministry of Finance took charge from last Tuesday to review the consolidated Proforma 2014.

The process of defining the budget for next year started on May 31 when the entity indicated the guidelines for registration of accounts of the entities in the Financial Administration System (Sigef for its spanish acronym).

In addition, institutions should submit the quadrenial budgetary programming  2014-2017, thus implies the communication sent by the Minister Fausto Herrera.

The Authorities expect that next week will be used to review the document with the Presidency and suggested adjustments will be done between October 28 and 31. The final text will be sent to the Assembly, until November 1, and lawmakers will have a month to give the go-ahead.

In relation to the 2012, this year the budget increased by 24%. If the forecast remains with that trend, the Proforma for 2014 possibly will be of the $40 billion.