Batakis considers, according to what was discussed yesterday with Martín Guzmán, that the third quarter goals were fulfilled. With some accounting and alternative exchange movements, but effectively. The former minister warned his successor that he will have to bear the criticism transferred by the managing director for the Western Hemisphere, Ilan Goldfajn. And he recommended concentrating on preparing the goals and objectives for the organization’s next mission, which, if things go as expected in Buenos Aires, would take place at the end of July or in the first half of August. The Government trusts in the promise that Washington made to the country: that any alteration of the goals and objectives due to Creole breaches will be resolved in a full year. In other words, if the agreement is breached, it will be evaluated by the body managed by Kristalina Georgieva in the first quarter of 2023. And not in the second half of this year, which would imply extra problems for the country.
It is with the confidence of this presumption that from the Palacio de Hacienda a primary fiscal deficit in May of about $162,412 milliondriven by a 90% increase in spending, also reversing the surplus of $25,714 million in the same month of 2021, a period in which the Solidarity and Extraordinary Contribution operated positively in collections, for some $80,234 million, money that this year did not exist and that, in any case, it would not have served to finish the income and expenses in blue.
In real terms, treasury revenue fell 1.3%, while primary spending rose 17.2%. As Economy clarified, the fiscal deficit accumulated between January and May today reaches 0.56%; while, if the scenario were repeated in June, the final figure would be close to 1% in the first half.
The Ministry of Economy affirms that, despite the growth, the projection for 2022 still maintains the balance with the guideline of a final primary deficit of 2.5% over GDP, as agreed with the IMF; and that there should be no alarms in the relationship with the organism. It will be one of the issues in which the minister will have to take control quickly. She won’t have that much time off. As this newspaper reported on Monday, the IMF will give it about 20 days until it announces the date on which the second mission of the year agreed upon within the Extended Facilities will take place.
Source: Ambito
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