The Ministry of Economy and Finance reported the data for September, with a deterioration driven by public companies and the BSE.
He fiscal deficit global economy deteriorated and reached 4.3% of GDP in September, without counting income Social Security Trust (FSS), according to the Public Sector Result report prepared by the Ministry of Economy and Finance (MEF).
In the last 12 months, the result of the Central Government – Social Security Bank (GC-BPS) was 3.9% of GDP and the FSS was 0.1%, so the fiscal result excluding these incomes was 4%. From the survey of MEF It appears that the income of the GC-BPS stood at 25.9% of GDP, which represents 0.1% of GDP in relation to the 12 months ended in August, something that they attributed to lower collection from the DGI.
In addition, primary expenditures from the GC-BPS stood at 27.4% of GDP, remaining practically stable compared to the 12 months ending in August. At the same time. the net expenses imputed to the COVID-19 Solidarity Fund were estimated at 0.1% of GDP and the GC-BPS interest payment remained unchanged from the previous month, at 2.3% of GDP.
The results of the public accounts
On the other hand, the result of the Public enterprises (EEPP) was 0.1% of GDP, decreasing 0.2% compared to August, something that the MEF attributed to a deterioration in the results of Ancap, associated with the technical stoppage for maintenance of the refinery The Tile.
Meanwhile, the result of Non-monetary Public Sector (SPNM) stood at 3.7% of GDP in September. Rising to 3.8% without FSS income. For its part, the overall result of the Central Bank of Uruguay (BCU), was 0.6%.
The result is a wake-up call after what the credit rating agency warned months ago Fitch Ratings, who said he will closely follow the country’s fiscal framework, pointing out that he faces “a new pre-electoral test” in the face of the elections presidential elections next year.
Source: Ambito
