Peru Congress approves 2007 budget

(LIP-wb) — Peru’s legislative approved the general state budget for the fiscal year of 2007 with 64 votes in favor, 13 against and 16 abstentions.

The budget’s volume amounts to 61,627 billion Nuevo Soles (currently about US$ 19 billion).

It contains a series of additional expenditures and final dispositions allowing to address requirements of diverse sectors that were not initially contemplated in the draft.

Among the amendments are necessary annual contributions to the Andean Parliament, as well as providing financial resources for the parliament’s Peruvian representatives and offices.

Another add-on will benefit the Peruvian Agency for International Cooperation (APCI).

Legislators of Ollanta Humala’s Nationalistic Party decided not to endorse the 2007 budget in its current form because “it represents a backward movement for the country’s decentralization process and delays the education reform, among other aspects”, informed party spokesman Juvenal Ordoñez.

Peru’s President of Congress, Mercedes Cabanillas, emphasized that 36 percent of the budget is destined for programs fighting poverty with the purpose of reverting the precarious life conditions of the poorest.