Chilean Government and Congress outline Budget 2023

Finally, and after four marathon days, the Chilean government, the ruling party and the opposition in Congress reached an agreement to replace a series of items in the 2023 Budget, paving the way for the first treasury of the Gabriel Boric administration.

The agreement protocol signed between the parties establishes a series of commitments between the parties in areas such as regions, health, education, economic recovery and employment.

A first point is related to public investment, where the measures that have accelerated execution this year will be maintained, such as maintaining the limit of 20% of the cost for the awarding of tenders, the polynomial index in the contracts of the Ministry of Public Works (MOP) and the expedited reassessment mechanism for projects in progress.

Additionally, the protocol establishes that from January 2023 the rules, instructions, and procedures for the public investment process (NIP) will be updated, “in order to reduce processing times, maintaining the technical rigor of the social evaluation.” Likewise, the methodologies will be updated.

The document specifies that a monitoring committee for public investment will be created under the Ministry of Finance.