General Budget of the Republic of Honduras 2024

Honduras Approves 2024 General Budget

Honduras Approves 2024 General Budget

Historic Legislative Session: Honduras Approves 2024 General Budget Focused on Democratic Restoration and Social Investment

In a historic legislative session, the People’s Congress approved the 2024 General Budget of the Republic, aligning with the Bicentennial Plan for the restoration of the Rule of Law and democracy in the country. The budget, totaling L. 407,137.5 million, represents a 3.6% increase without imposing new tax burdens on the Honduran people, reports the Congreso Nacional de Honduras. 

Historic Public and Social Investment Budget Approved by the People’s Congress

The approved 2024 General Budget of the Republic marks a historic milestone, emphasizing significant public and social investment for the well-being of the Honduran people. The total budget for the Public Investment Program in 2024 is L. 96,461.5 million, with 70.4% funded by national resources.

 

 

The public investment for the fiscal year 2024 includes L. 35,107.6 million for productive investment, L. 51,740.7 million for social investment (a historic amount), and L. 9,613.1 million for gross fixed capital formation.

This allocation signifies a substantial increase of L. 24,614.6 million, equivalent to 34.2%, compared to the approved 2023 budget of L. 71,846.9 million, representing 10.5% of the Gross Domestic Product (GDP) and 23.7% of the 2024 General Budget of Income and Expenditure.

 

 

 

Major institutions involved in productive investment include the Ministry of Infrastructure and Transportation (SIT), allocated L. 9,429.7 million, constituting 26.9% of the total, for the construction and rehabilitation of road sections and public works.

 

 

 

Simultaneously, the Solidarity Network program has an allocation of L. 3,781.0 million, representing 10.8%, to support Conditional Cash Transfers (CCT).

The Ministry of Health (Sesal) plans to use L. 2,514.1 million, accounting for 7.2% of the total, for the construction of 5 hospitals. Additionally, the Ministry of Agriculture and Livestock will allocate L. 2,086.4 million, or 5.9%, to support food security.

The Honduran Social Investment Fund (FHIS) will have L. 1,592.5 million, constituting 4.5% of the total allocation, for the construction of schools and the implementation of social projects supporting communities nationwide.

The collective social programs (Social Investment) have an allocation of L. 51,740.7 million, representing 53.6% of the total Public Investment Program for 2024. These investments cover agricultural credits, student scholarships, free enrollment, subsidies for electricity and fuels, school meals, technological bonuses, and municipal transfers.

 

 

 

 

The proposed 2024 General Budget of Income and Expenditure for the Republic amounts to L. 407,137.5 million, with an increase of L. 14,617.7 million compared to the 2023 budget, reflecting a 3.7% increment. Importantly, no additional tax burdens will be imposed on the Honduran people.

The allocation for the Central Administration is L. 248,775.1 million, with an increase of L. 14,234.3 million, equivalent to 6.1% compared to the 2023 budget. For the Decentralized Administration, the allocation is L. 158,362.3 million, representing an increase of L. 383.5 million or 0.2% compared to the 2023 budget.

 


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