The governor of the province of Buenos Aires, Axel Kicillof, has again requested authorization from the Buenos Aires Legislature to take on debt amounting to 1.045 billion dollars. The request comes after a failed attempt in 2024 due to the frustrated discussion of the provincial budget.
According to the project accessed by the Argentine News Agency, the ruling party's proposal also includes the issuance of Treasury Bills for a total of up to 250 million dollars and the creation of a Municipal Investment Strengthening Fund. Additionally, it proposes to declare an emergency in various areas, such as prisons, public safety, infrastructure, habitat, housing, and public services and energy.
The bill also seeks to suspend the collection of debts that municipalities incurred with the Government due to the Covid fund during the pandemic starting in 2020. In the session called by the Provincial Chamber of Deputies, it was expected to address an initiative that would forgive debts for special funds for municipalities, such as the Special Emergency Health Fund for Municipal Fiscal Containment and the Special Fund for Extraordinary Salary Allocations for Municipalities.
According to official information, the debt that municipalities maintain with the provincial Executive Power amounts to a total of 7.9 billion pesos. The bill was debated by the commissions of Municipal Affairs, General Legislation, and Budget and Taxes, with the aim of advancing the proposal that would provide financial relief to the Buenos Aires mayors.
In the words of Axel Kicillof: "It is necessary to adopt urgent measures to strengthen municipal investment and address the emergency in various key sectors for the well-being of the citizens of the province of Buenos Aires." The details and specific amounts relating to the taking of debt and the creation of special funds, as well as the suspension of debt collection from municipalities, are part of the proposal presented to the Buenos Aires Legislature.
