The report from the technical office of Congress reveals that the largest adjustments were made in energy subsidies with 31% and in the category of other subsidies, which includes a 64% drop in the funds that were used to finance the Pre-Travel program. .
In total, in October the state allocated $158,202 million to pay aid to the private sector, a figure that represents a decrease of 36.5% in real terms compared to the same month last year. There was also a real reduction of 33.6% in transfers to the provinces and 6% to national universities.
On the other hand, the report indicates that the total income of the National Administration reached $1.34 trillion, with a nominal year-on-year increase of 104% and a real one of 8.5%.
With that, the economic result was a surplus of $34,872 million. If income and capital expenditures for the period are included, a primary deficit of $23,102 million was recorded, which marks a real drop of 94% compared to the same period. 2021. And if interest payments are added to this, there was a financial deficit of $75,113 million, that is, a real 86.4% drop.
In this regard, the former Secretary of Economic Programming, carlos rodriguezrelativized, in their social networks, the drop in spending by pointing out that “Removing the foam is a temporary thing, reducing it permanently requires eliminating clearly defined activities.” For his part, the financial analyst Christian Buteler opined that “liquefying spending is not the same as lowering it.”
The OPC report indicates that At the end of the month, “78.7% of the expense budget was executed, 2.9 percentage points below the level registered a year ago”. “Staff expenses (83.7%), energy subsidies (83%), debt interest (82.6%) and social programs (81.2%) stand out for the level reached,” says the report.
The cash base data of the national public sector, measured with the International Monetary Fund (IMF) methodology, will be released on Tuesday 22.
Meanwhile, the consulting firm Analytica, headed by economist Ricardo Delgado, anticipated that In the second week of November, spending registered a drop of 15.2% in real terms compared to the same period in 2021. This is the data of the so-called Expenditure Adjustment Monitor. The same indicates that in relation to the second week of October the disbursements increased 3.6%. In November, the only item that maintained real growth of 55.8% was economic subsidies. In family allowances and Universal Child Allowance, the reduction of 56% real.
For his part, heThe consulting firm LCG anticipates that in October the primary deficit of the public sector would have reached $280,000 million, with which in the first 10 months it would have accumulated a loss equivalent to 1.4% of GDP. To this should be added a floating debt equivalent to 0.8% of GDP.
Source: Ambito
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