LatinNews Daily - 29 November 2024

*Chile’s President Gabriel Boric has celebrated the approval of the 2025 budget proposal by congress, stating that the budget “prioritises a responsible and efficient management of state resources”. According to the local press, the approved budget represents a 2% increase on that approved in 2024, although is some US$600m or Cl$585bn less than that originally presented by Boric, which had foreseen a 2.7% increase in spending on 2024. Boric highlighted a focus on crime prevention, “protecting our borders”, and combatting organised crime and drug trafficking. The budget allocates over Cl$111bn to the government crime reduction plan ‘Calles Sin Violencia’ (Streets Without Violence) and the national plan against organised crime, as well as funding an increase in personnel of the Carabineros militarised police force and the investigative police (PDI) and the construction of a new maximum-security prison. Boric also highlighted funding to improve education, Cl$3.8trn to finance public works, a 68% increase in resources to address waiting times for public hospitals, a 37% boost in funding through the local support and care network to provide professional care at home to 30,000 more people, and increased investment in science, particularly green hydrogen and lithium. Boric also stated that the mining royalty contained in the budget would boost resources for municipalities by 137% and for 140% for regional governments.