The portfolio added that In the first eleven months of 2021, the fiscal result accumulated a negative result of 911,298 million pesos, 2.1% of GDP.
The financial result for November, which includes public debt payments, showed a red of 242,089 million pesos.
Total Navional Public Sector Revenues (SPC) rose 69.3% year-on-year to $ 793,086 million, as a result of the fact that tax revenues grew 61.3% yoy driven by Export Duties (+ 83.0% yoy), revenues associated with Social Security (+ 69.2% yoy), VAT (+ 63.7% yoy) and Debts and Credits (+ 59.7% yoy).
In turn, the Primary spending registered a rise of 76% yoy in November, which rises to 81.2% if COVID spending is excluded in 2020 and 2021. This spending expansion is driven by the capital investment, remuneration and for the different social inclusion and containment measures deployed by the National Government throughout the current year.
In this way, by the month of November a primary deficit of $ 911,298 million (2.1% of GDP) and a financial deficit of $ 1,579,888 million (3.7% of GDP), after excluding extraordinary income corresponding to Special Drawing Rights (IMF), contributed by the IMF.
With this dynamic, Taking into account the resources of the Solidarity Contribution and SDR, as of November there is a primary deficit of $ 483,897 million (1.1% of GDP) and a financial deficit of $ 1,152,487 million (2.7% of GDP).
Last year Argentina registered a primary deficit equivalent to 6.5% of GDP.
Source From: Ambito
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