Thus, in the first five months of the year the fiscal result accumulated a negative balance of 434,331 million pesos.
The financial result for May, which includes public debt payments, was negative at 242,432.5 million pesos.
Total Revenues amounted to $1,128,630 million (+58.7% yoy), affected by the high comparison base of May 2021, as a result of the collection of the Solidarity and Extraordinary Contribution. Without the Solidarity Contribution, the variation amounts to +78.7% yoy
Tax revenue grew +76.0% yoy, mainly driven by the increase in income associated with Profits (+110.0% yoy), Personal Assets (+96.5% yoy), Debits and Credits (+88.6% yoy ) and those related to Social Security (+75.9% yoy)
“For the purposes of the policy objectives contained in the economic program consistent with a primary deficit target of 2.5% of GDP, An annual limit was established for the computation of income from property income linked to primary issues of public securities equivalent to 0.3% of GDP. In this way, the primary deficit contemplated by said limit amounted to $191,528.0 million in May,” they clarified from Economy.
For its part, primary spending in May registered a rise of +88.3% yoy (+17.2 yoy real). This increase contemplates capital investment (+84.7% yoy), in combination with inclusion and social support measures (94.7% yoy).
The country scored a primary fiscal red equivalent to 6.5% of GDP in 2021.
Source: Ambito
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