In the same month of 2021, the primary fiscal red had been only $11,445 million. In this way, in the first four months of the year the fiscal result accumulated a negative result of 271,920 million pesos.
Meanwhile, the financial result for April, which includes public debt payments, it was negative in 146,315 million pesos.
Total revenues rose 77.9% year-on-year (yoy) to $1,085,582 million. Disaggregated that amount, the tax revenue grew +60.3% yoy, mainly driven by the increase in revenue associated with Social Security (+71.1% yoy), Profits (+90.6% yoy), VAT (+68.3% yoy) and Debits and Credits (+65.0% yoy)
For its part, primary spending climbed 87.4% yoy, which amounts to 92.8% if COVID spending is excluded in 2021 and 2022.
This increase includes the capital investment (+85.7% yoy) in combination with social inclusion and containment measures (126.4% yoy), in addition to the increase in energy subsidies, by $96,834 million (+148.4% yoy), product of the sharp rise in international hydrocarbon prices due to the war between Russia and Ukraine.
The country scored a primary fiscal red equivalent to 6.5% of GDP in 2021.
Source: Ambito
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