The Senate chamber on Tuesday approved the bill that authorizes the Treasury to incur obligations of up to USD 6.2 billion during 2026. With this vote, the initiative presented by the Executive is cleared by the National Congress for enactment into law.

Finance Minister Jorge Quiroz highlighted that "it is a sign of fiscal responsibility to be able to finance a budget that was approved last year, which had incomplete financing and is now being completed through this law."

He also addressed the character of fiscal order and responsibility of the measure: "This is a concrete decision regarding how the Chilean State responsibly addresses a fiscal situation different from that anticipated when the 2026 Budget Law was approved," he emphasized.

The authorization is additional and independent of that provided in the 2026 Budget Law and is added to it for the purpose of aligning the year's financing with the actual needs identified following the update of the fiscal scenario presented in the Public Finance Report (IFP) for the first quarter of 2026.

That report reflected a tighter fiscal scenario than anticipated at the time the 2026 Budget Law was being drafted during 2025. The review showed that the revenues considered in that formulation had exceeded their actual performance, while various spending obligations had not been fully recognized, which led to an upward adjustment of the year's deficit estimate compared to that provided in the budget approved the previous year.

Based on that diagnosis, the Executive identified a financing need close to USD 4.7 billion, also accounting for the exchange rate effect on debt issuance.

To that amount is added an additional component of USD 1.5 billion, designated for working capital and to reduce floating debt, which allows the State to regularize payment obligations, including those owed to suppliers, many of them small and medium-sized enterprises.

The minister framed the measure within a broader fiscal strategy: "This bill is not an isolated measure, but rather a piece that integrates a coherent fiscal strategy, which combines responsibility in the management of public accounts with a long-term vision of recovering the State's financial strength."

In that regard, he detailed that the Government has pursued a comprehensive fiscal consolidation strategy based on four pillars: "First, recover economic growth, because there will be no sustainable fiscal consolidation without growth, investment, and more and better employment. Second, rationalize public spending through corrective actions aimed at containing expenditure, improving its efficiency, and strengthening fiscal discipline. Third, modernize the State's asset management, particularly regarding state enterprises, strengthening their financial soundness and increasing their support for the country's development. Fourth, advance toward comprehensive management of the fiscal balance, actively managing its assets, liabilities, and the State's liquidity," he emphasized.

Finally, the minister reiterated the Government's commitment to fiscal discipline and responsibility throughout the administration: "Fiscal responsibility consists of fulfilling the State's commitments, protecting confidence in our country, and creating the conditions for our economy to return to sustainable growth," he stressed.