Buenos Aires province may treble infra budget

Friday, October 14, 2016

Buenos Aires governor María Eugenia Vidal has sent to the legislature a 2017 budget that triples the allotment for the infrastructure and public services ministry of Argentina's largest province, which would imply a 70% increase in public works investments.

Direct investment in the province's public works will be of 26.8bn pesos (US$1.78bn), five times more than in 2015. The plan is for 826 works, including 442 new projects that range from potable water and sanitation systems to flood control methods, state news agency Télam reported. It also includes 28 works in transport and energy.

Start your 15 day free trial now!


Already a subscriber? Please, login

Vidal has also requested approval to acquire nearly 25bn pesos in debt for social projects and programs, and already has authorization to request around US$670mn in international loans for infrastructure works.

"After overcoming the financial emergency that existed in the province when this administration took over, and with the improved macroeconomic conditions that the country will see next year, 2017 will be a good year to consolidate the Buenos Aires province development program," said Vidal, who earlier in the week joined President Mauricio Macri in launching excavation works to bury a 22km stretch of Sarmiento rail line.