Public Finance, Consumer Protection & Economic Systems
DIPRES (Budget Discussion): Institutional Mission
Its mission is to ensure the efficient allocation and use of public resources within the framework of fiscal policy through the implementation of systems and financial management tools, programming, and management control.
This involves formulating the Budget Law, making changes to the current budget through decrees, preparing monthly cash programs, and recording monthly expenses, both cash-based and institution-accrued.
Strategic Objectives
- To advise the Minister of Finance on fiscal policy formulation.
- To estimate public sector inputs and projected performance.
- To analyze the financial implications of public policies.
- To strengthen the budget as an instrument for the efficient allocation of public resources, aligned with objectives.
- To promote the efficient use of public resources by developing budget-related management control techniques and instruments.
- To inform public authorities on the allocation and implementation of public sector financial resources and future prospects.
Budgetary Cycle Stages
- Evaluation: Process of analyzing the financial year from the previous period by the Minister and the institution, including budget information and management expenditure.
- Formulation: Development of the Public Sector Budget Bill for the next period, through the estimation of revenues and expenses for each program budget across all central government institutions.
- Discussion and Approval: Instance of analysis and discussion of the Public Sector Draft Budget Law, conducted by the Honorable National Congress.
- Implementation: Process of monthly delivery of budgetary resources to institutions, updating the initial budget through budget amendment ordinances, and recording cash and accrued expenditures.
SERNAC: National Consumer Service & Consumer Rights
SERNAC is the National Consumer Service. Its mission is to educate, inform, and protect consumers in Chile, through Law 19,496 of Consumer Rights. It has the authority to mediate consumer disputes between suppliers and consumers. It also serves to encourage consumers to make conscious, autonomous, critical, and responsible consumption choices; to develop education programs; to deliver the information needed to be an informed consumer; and to ensure an equal relationship between suppliers and consumers.
Action Areas
Studies and Research, Information and Broadcasting, Education, and Legal Protection of Consumers.
Basic Consumer Rights & Duties
- To freely choose a particular good or service.
- To access accurate and timely information.
- Not to be arbitrarily discriminated against by suppliers of goods and services.
- To safety in the consumption of goods and services.
- To repair and compensation.
- To education for responsible consumption.
- To retract or terminate a contract without the supplier’s arbitrary will, and to guarantee the right to repair, replacement, or money back.
Understanding Economic Systems: Social Market & Centralized
Social Market Economy
Its conception resulted, among other things, from criticism of the basic measures on prices, competition, and social policy within classical economics. The Social Market Economy trusts the state to provide legal guarantees and fulfill a variety of missions much more extensive than those mandated by a purely free market economy.
Economy of Centralized Management
A fundamental type of economic system in which the planning and allocation of goods are subject to a central authority and implemented by a hierarchical management apparatus through guidelines binding on companies. The connection of central planning with state ownership (according to this system) defines the centralized management economy, a characteristic feature of socialist states.