Public spending registered its third real fall in a row in May

Public spending registered its third real fall in a row in May

He expense accrued from the National Public Administration (APN) reached in May to 2 trillion 527.474 million pesoswith nominal year-on-year growth of 98%, some 20 points below estimated inflation for the period, representing the third consecutive month of decline in real terms.

The information was released by the Scalabrini Ortiz Center for Economic and Social Studies (CESO)in a report that anticipates the dissemination of the public accounts that the Ministry of Economy will make on Thursday, June 22.

In any case, the CESO and Economy figures may not coincide for methodological reasons, since the former show the accrued result of the APN and those of the Treasury the executed result of the Non-Financial Public Sector, which includes public companies and trust funds. For that reason, The APN report does not include the main capital investment at the moment, the Gasoducto Presidente Néstor Kirchner (GPNK), in charge of Enarsa.

In the classification by purpose, the largest increase compared to May 2022 occurred in Public Debt (145%), followed by Defense and Security Services (119%), Social Services and Economic Services (both with 86%) and Government Administration (64%).

The execution of spending reached 36% of the total forecast for the entire year, in line with the elapsed time, with two jurisdictions that exceeded 50%: the ministries of Transportation (54.3%) and Social Development (52.8%).

Capital investment (not counting the GPNK and other ventures not carried out by the APN) had an increase of 117%, similar to the projected inflation that the National Institute of Statistics and Censuses (Indec) will announce on June 14.

The function “Promotion and Social Assistance” reached an execution of 48%, higher than the average, with a year-on-year increase of 113%, with increases of 77% in resources allocated to the Tarjeta Alimentar program and 104% for Potenciar Trabajo.

Subsidies to the energy sector amounted to $122,282 million last month, with a nominal increase of 94%, and accumulated $487,411 million in the first five months of the year, of which 90.3% went to the Wholesale Electricity Market Administration Company (Cammesa).

Source: Ambito

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