Debt Sector Public. Bumper. Increase. Regime.

Original Language Title: Deuda Sector Publico. Tope. Incremento. Regimen.

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Read the untranslated law here: https://parlamento.gub.uy/documentosyleyes/leyes/ley/19316

NET debt of the public SECTOR modification of article 4 of the law No. 17.947, in LA writing given by the article 266 of the law No. 18.834 the Senate and the Chamber of representatives of the Republic East of the Uruguay, gathered at General Assembly, DECREED: sole article.-replace article 4 of law No. 17.947, on January 8, 2006 , in the wording given by section 266 of the Act No. 18.834, on November 4, 2011, by the following: "article 4.-starting on January 1, 2014, net national debt in each fiscal year may be increased up to a maximum equivalent to UI 9.000.000.000 (nine billion indexed units).

  When medien adverse climatic situations that determine that plants and electrical transmissions (UTE), national administration must take extraordinary costs for power generation, the ceiling referred to in the foregoing paragraph may be additionally increased up to a maximum equal to 1.5% (one with five per cent) of the gross domestic product (GDP). In any case, for the purposes provided in this article, extraordinary costs incurred by the joint venture, coupled with the variation of the stabilization fund energy (article 773 of the law Nº 18.719, on December 27, 2010) may exceed 1.5% (one with five per cent) of GDP. The Executive Branch will find the proceedings to the General Assembly".     Hall of sessions of the House of representatives, in Montevideo, February 10, 2015. ANIBAL PEREYRA, President.
José Pedro Montero, Secretary. Ministry of economy and finance Montevideo, 18 February 2015. Met, acknowledge receipt, communicate, publish, and inserted into the national registry of laws and decrees, the law which replaced article 4 of law No. 17.947, on January 8, 2006, in the wording given by section 266 of the Act No. 18.834, of 4 November 2011, related to the top of the net debt of the public sector. JOSÉ MUJICA.
MARIO BERGARA.