Macroeconomy/Finance

Budgets coming from the HDT will be reduced by approximately 45%

The 2020 budget for the central government, governorates, mayors’ offices and universities, which receive resources from the Direct Tax on Hydrocarbons (IDH), will be reduced by 45%, with the impact being more significant in governorates since they depend solely on the IDH. Projects will have to be prioritized and enter a period of austerity.

Source: Los Tiempos