24hoursworld

In October there was a deficit of $330,000 million and accumulated 1.6% of GDP in the year

In October there was a deficit of $330,000 million and accumulated 1.6% of GDP in the year
November 21, 2023 – 20:19

This is the month in which the first electoral round took place. In real terms, the deficit grew 5.4% compared to the same month in 2022.

Ignacio Petunchi

The National Public Sector registered in October a primary deficit of $330,338.2 million and a financial deficit of $454,248.9 million. This way, accumulated a primary red of $2.9 billion between January and October, reported the Ministry of Economy. With these data in the first 10 months of the year the deficit would be 1.6% of GDP, in the case of the primary, and 2.84% if interest is added.

Official information shows that Total Revenue of the National Public Sector amounted to $3 trillion, with a nominal increase of 132.9% year-on-year.

“In the framework of this restrictive scenario, the administration of fiscal policy established by the authorities of the Ministry of Economy continues to mitigate between January and October the negative impact on the primary result caused by the observed drop in collection,” said the Palace of Tax authorities.

The official report indicates that In the tenth month of the year, the primary spending of the National Public Sector reached $3.8 trillion and accumulated an average nominal increase of 106.3% during the year, highlighting the growth of investment associated with educational policy and the reinforcement of various social programs and pension benefits.

At the same time, real direct investment grew 158.4% year-on-year driven by investment in infrastructure by ENARSA, ADIF, ARSAT and Aerolíneas Argentinas.

WhatsApp Image 2023-11-21 at 19.14.24.jpeg

According to the Argentine Institute of Fiscal Analysis (IARAF), in the month The primary deficit increased by 5.4% in real terms compared to the same month in 2022. This was a consequence of the fact that total national income fell 2.3% real year-on-year and primary spending fell 1.7% year-on-year. In the first 10 months of the year, real primary spending fell 4.7%. Significant real year-on-year falls were observed in family allowances (38.3%), in energy subsidies (28%) and in non-contributory pensions (18.7%). For his part, heReal total income fell 6.7%. The most important was the drop in export duties (62.4%). Thus, the accumulated primary deficit as of October increased 14.6% in real terms compared to the same period in 2022.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts