He World Bank could contribute around 1 billion dollars this year for social programs, as he usually delivers. Money will be essential at a time when The government has stopped spending on canteens and in direct help to people in situations of poverty.
The American economist Marianna FayThe Organization’s director for Argentina, Paraguay and Uruguay, stressed Tuesday that the World Bank’s goal is to provide help to the government to “mitigate the social impact“of Javier Milei’s economic policies, aimed at correcting the distortion of relative prices, eliminating the fiscal deficit and its monetary financing to lower inflation.
The organization has a portfolio with Argentina of 28 active projects for a total of 8,920 million dollars, of which half still needs to be done. In 2023, the World Bank disbursed $1.8 billion and by 2024 it has secured $700 million, but hopes to expand investments.
Its focus is “social protection and children”. “We are worried about poverty, and especially about poverty child poverty“Fay said.
consulted by Clarion Regarding the failure to execute social spending in the first quarter of the year, the economist said: “Every time there is a new government it is difficult to make the machine work.. We’re talking to see how we can help, make things easier. “We are confident that they will be able to quickly help the population.”
According to data from Open Budget, the execution of expenses in the “Promotion and Social Welfare” function has accumulated up to March 24 about $539,587.20 million (in cash, paid), 26.38% of the total extended budget of the ‘previous year – which implies A decrease in real terms close to 70% on an annual basis, due to inflation.
Of this sum, 275,528.82 million dollars were allocated for food policies, after a start to the year in which canteens reported not having received resources.
Source: Clarin
