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The adjustment continues in February, but pending January expenses are canceled

The adjustment continues in February, but pending January expenses are canceled

It could be said at this point that the “chainsaw and blender” plan continued in full force during February. The contraction in spending in the first 18 days of the month continued at levels similar to those of January, although with the particularity that Commitments that were pending from the first month of the year are now being paid.

According to data managed by the consulting firm Analytica, during February the Government has recorded accrued expenditures of $786,020 million, but in the column of actually paid are $963,024 million, that is, a higher figure.

Analysts suggest that this is because “expense accrued from January would be paid.” As is known, in that period spending fell 98% compared to the same time in 2023. That is, Virtually no games were played and nothing was paid. And with this, a primary fiscal surplus of $2 trillion was obtained, while the financial surplus was $518,000 million.

A a large part of the expenditures remained pending payment, among them, the debts of the Teacher Incentive Fund (FONID), which correspond to the last quarter of 2023. Although the fund lost validity when the decree that supported it fell, the central government still has shipments from last year pending.

In the first two weeks of February, the national Executive reduced accrued spending by 83% real year-on-year, Meanwhile he paid expenses fell 56.8% in real terms, also in the interannual measurement. These are data that must be taken with relative criteria, since in the last days of the month new heavy expenses may accrue that alter the partial result.

The “chainsaw plan” continues in February

Nevertheless, “the chainsaw plan continues”, economist and director of Analytica Claudio Caprarulo explained to Ámbito. The economist maintains that “we must take into account that In February, the update of the Minimum Living and Mobile Wage begins, which affects social plans, such as Empowering Work.”

Caprarulo then considered that “social spending is going to increase”but we must also take into account “that”“There are spending items that are not being executed.” Some of this is explained in the recent internal dispute between the Minister of Human Capital, Sandra Pettovello, and her counterpart Luis Caputo, who would not be releasing resources to her.

But beyond the fact that with the January fiscal result the Government It would already have more than exceeded the goal agreed with the IMF, of a cash surplus of $960,000 million for the first quarterthe economist suggests that Javier Milei’s administration is managing itself with more ambitious goals, perhaps, trying to reach an exchange rate liberalization as soon as possible and even more so, a bimonetary scheme.

ATN beneficiaries

Another element that will generate controversy among opposition governors is the discretionary transfer of funds. The radical Corrientes president Gustavo Valdés, He began to be viewed with distrust by the leadership of the UCR, which answers to Martín Lousteau, due to his closeness to Javier Milei’s proposals. In January, Corrientes was the only province that received Contributions from the National Treasury (ATN) for $1,000 million.

As of February 8, Analytica records a payment of $1.5 billion for Chubut. The governor Ignacio Torres, who was quite harsh with Milei, recently announced that he is leaving to be responsible for the payment of a teacher salary incentive with their own resources, something that deserved congratulations from Luis Caputo who considered it a correct decision. In addition, Torres began a claim before the Supreme Court for the removal of transportation subsidies.

Source: Ambito

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