The Ministry of Economy reported that in May the National Public Sector (SPN) registered a primary surplus of $ 1.69 billion, which implies approximately 0.2% of GDP, and a financial surplus of $ 662,123 million.
The official information indicates that the government He managed to accumulate in the first five months of the year a primary surplus of approximately 0.8% of GDP and a financial surplus of 0.3% of GDP.
One of the elements to take into account when analyzing the result is that in May the Ministry of Economy He deepened the “chainsaw.”
It was reported that “During May, the primary expenses of the national public sector reached $ 9.67 billion ” which implied in nominal terms a rise in 40.8% Regarding the same period of 2024. during that period Inflation rose 43% indicating that the national government He practically froze the primary expense last month.
The official report indicates that “as regards the social benefits, the same amounted to $ 6.29 billion (57.3% year -on -year.) product of the impact of the mobility formula approved by Law No. 27,609 and DNU 274/24 “.
“On the other hand, the remuneration reached the $ 1.27 billion (35.8% year -on -year) As a result of the increases granted within the framework of agreed salary policies, “says official information.
Meanwhile, the Current transfers reached $ 3.38 billion. Those corresponding to the private sector presented a growth of $ 406,133.3 million (16.8%). On the other hand, the transfers current to the public sector carried out in May reached $ 556,583.5 million (59.9%.).
The Economic subsidies presented a drop of $ 372,894 million (-33.7%.), Where energy varied -$ 465,801 million (-49.1%), while those destined for transport were made at $ 96,948 million (+64.2%).
On the side of resources, The total income of the SPN reached $ 11.37 billion which implies a growth of 23.6% year -on -year nominel. The evolution is mainly due to the variation due to income from profits (-19.9%), which results from a high comparison base in 2024 due to the extraordinary results recorded by the financial sector during fiscal year 2023.
Caputo confirmed the fiscal anchor
In this regard, the Minister Luis Caputo He explained through his X account that “this accumulated surplus will allow to solve the months of seasonal deficit (July and December fundamentally).”
“The consolidation of fiscal equilibrium has allowed the decrease or elimination of taxes for equivalent to more than 2 points of GDP, As the country tax in December 2024, the export rights for regional economies and the transitory decrease for exporters that comply with the period established for currency settlement, as stipulated by Decree 38/2025, “he said.
Caputo added that it also allowed “the repeal as of March 2025 of the suspension of exclusion certificates, which negatively influenced the collection of customs perceptions in VAT and profits and the reduction of import tariffs and internal taxes for different technological and electronic products since May 20 “.
“The interannual variation in the Tax income in May was affected by the high base of comparison of the income tax, Given the extraordinary results registered by the financial sector during fiscal year 2023, “said the head of the Treasury Palace.
In this way, he said that “The fiscal surplus achieved in the first five months of the year, After the financial surplus of 0.3% of the GDP recorded in 2024, it reflects the Commitment of the Ministry of Economy with the Fiscal Anchor, fundamental pillar of the economic program implemented from December 2023 “.
Source: Ambito
