The reduction of fiscal deficit was, from the first day of management, one of the priorities highlighted by Javier Milei. In this framework, and after a financial context of freezing of budgetreduction in spending and increase in nominal revenue as a result of the inflation, Luis Caputo announced the financial balance recorded by the National Public Sector during the month of January.
Through the social network National Public Sector registered a financial surplus of $518,408 million. He primary surplus (before debt interest) was $2,010,746 million and the interest payment was $1,492,338 million. The zero deficit is not negotiated“.
Subsequently, Javier Milei He used the same means to celebrate those figures. “VAAAAAAAAMOOOOOO TOTO…!!! The zero deficit is not negotiated. LONG LIVE DAMN FREEDOM,” wrote the president. The record represents, according to the Ministry of Economyhe first financial surplus since August 2012, and the first financial surplus in a month of January since 2011.
Financial surplus in the National Public Sector
In the details of the figures presented by the Minister of Economy Luis Caputothe total income of the National Public Sector they reached the $6,147,232 million (an increase of 256.7% year-on-year), with a boost in tax collection that exceeded that of January 2023 by 256.9%, attributed “both to the performance of the foreign trade as of the internal economic activity“.
Regarding the foreign tradethe economic portfolio recorded an increase – in pesos – in export duties of 574.3%, that is, about $545,482 millionwhile import duties rose 377.3% year-on-year, which represents $207,943 million.
While the COUNTRY Tax also recorded a year-on-year increase of 1,302.3% ($442,174 million), and taxes linked to internal economic activity also rose: both the collection corresponding to VAT net of refunds ($949,317 million; 288.7% year-on-year) such as debits and credits ($379,947 million; +248.3%). Likewise, the income corresponding to the Contributions and Contributions to Social Security increased by $1,079,789 million (165.7%). Finally, during the month of January property rents increased $184,380 million (327.4%).
National Public Sector Expenditures
In the report, the Ministry of Economy of the Nation estimated that the primary expenditures of the National Public Sector In the month of January they reached $4,136,487 million, bringing the year-on-year increase to 114.6%. The benefits of the Social Security rose to $1,599,676 million (125%), which does not include the reinforcement of pension income (more than $266 billion). On the other hand, salaries reached $691,168 million (158.1% year-on-year).
Current transfers reached $1,406,927 million (114.6%), among which include those of the private sector, which showed a growth of $654,680 million (125.6%), and those of the public sector that reached $228,954 million ($95,222 million; +71.2%), among which financial assistance to universities stands out for $145,682 million ($85,940 million). Likewise, economic subsidies grew in $54,877 million (27.5%). In this way, it is recorded that the year-on-year increase in expenditures is lower (even below inflation) than that of income.
Source: Ambito
