Governments and municipalities received transfers for G. 1.45 trillion from the Treasury
The Ministry of Finance transferred a total of G. 1.45 billion to governorates and municipalities as of August of this year, according to data from the Ministry of Finance.
At the end of the eighth month of the year, the municipalities received resources for G. 820,035 million, while the governorates for G. 629,391 million, reported the Unit of Departments and Municipalities (UDM), dependent on the Undersecretary of State for Financial Administration (Sseaf ).
The amounts transferred include Royalties and the National Fund for Public Investment and Development (Fonacide), which in the case of the Municipalities were for G. 156,861 million from Fonacide and G. 562,751 million in Royalties. While for the Governments they were G. 119,876 million of Royalties and G. 42,534 million of the Fonacide.
Likewise, the Governments received transfers from taxes, that is, from Source 10 Treasury Resources, for a total of G. 351,401 million.
Transfers of financial resources to subnational governments are subject to strict compliance with the legal requirements established in Law No. 6873/2022 "That approves the General Budget of the Nation (PGN) for Fiscal Year 2022", and its Regulatory Decree No. 6581/2022.
Failure to comply with legal requirements forces the National Treasury to suspend transfers of financial resources, until the presentation of accounts and reports is regularized, in accordance with the terms and conditions established in current regulations.
Once the legal requirements established in the aforementioned regulations have been met, no additional management is required by the departmental and/or municipal authorities, or by persons authorized by them for the transfer of resources. Read More…
