This Economic Package confirms the government’s commitment to:
• Macroeconomic Stability: Through the implementation of the structural reforms, the country will maintain its stability thanks to an increase in consumption derived from lower prices in telecommunications and electricity tariffs, increased investment and a stronger fiscal policy due to Tax Reform.
• No tax increases: It does not propose new taxes, or raise existing ones or decrease existing tax benefits for the rest of the administration.
• Encouraging Savings and Investment: It includes measures to promote workers’ incorporation into the formal economy, short-term savings and investment and promote greater economic growth. It also proposes measures to provide clarity and legal certainty to taxpayers.
• More efficient, socially responsible spending: It Includes Programs to Support Small Producers, the National English Program and the promotion of culture through the creation of the Secretariat of Culture. In keeping with efficiency criteria, investment spending will give priority to projects that are already underway that have proven to have the greatest social and economic impact.
Thus, the Economic Package 2016 is committed to the path of stability and growth driven by structural reforms.