According to official data, the result of the eighth month is explained by an increase in Income of 73.7%, whose year-on-year variation is affected by the collection of the Solidarity and Extraordinary Contribution during August 2021, and a growth of 72, 9% of Primary Expenditure.
In this context, the real growth of primary spending slowed again for the fourth consecutive month. The result is part of the government decision of the Minister of Economy, Sergio Massa, to achieve a fiscal order and take care of public accounts.
“It is important to mention that the accumulated real growth of primary spending slowed down for the fourth consecutive month, within the framework of a process of fiscal order and care of public accounts,” added the Ministry of Economy.
As regards the benefits of the social Security, they amounted to $486,502.1 million (+65.0% year-on-year). This dynamic is explained by the impact of the current mobility formula (Law No. 27,609), which shows increases as the economy grows and collection and wages recover. On the other hand, remunerations registered a variation of +98.6% year-on-year as a result of the increases granted within the framework of the salary agreements reached.
The Current transfers reached $523,616.0 million (+53.9% year-on-year). Those corresponding to the private sector presented a growth of +$124,912.2 million (+44.0% year-on-year).
Among them, the payments corresponding to the Family’s asignations (+$20,106.4 million), driven by the granting of the monthly supplement established by Decree No. 719/21. In turn, the Universal Allocation for Social Protection increased by +$7,098.8 million, as a result of the high comparison base for the month of August 2021, where the retroactive payment was made for submitting the sworn statement corresponding to the certificate of education.
In regards to the energy subsidiesthey reached $185,591.3 million (+47.0% year-on-year), mainly due to transfers to Cammesa -the company in charge of the wholesale electricity market- (+$14,339.2 million) and to Enarsa (+$29,038.6 million). ).
In this context, today it was learned that Argentine exports fell in August, and the trade balance showed a deficit of US$300 million, the third in a row, as reported by the National Institute of Statistics and Censuses (INDEC).
In the accumulated of the first eight months of the year, meanwhile, the commercial exchange showed a surplus of US$2,193 million, below the US$10,655 million of January-August 2021.
Source: Ambito
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