January’s primary fiscal deficit was $16.698 billion

The Ministry of Economy announced on Monday the state of the public slopes of January and announced that the primary fiscal deficit reached 16,698 million (159 million dollars) in the first month of 2022.Likewise, the interest payment of the public debt, net of intra-public sector payments, was $ 133,966 million, resulting in a financial deficit of $150,664 million.

In this context, Argentina seeks to close against the clock a refinancing of more than 40,000 million dollars with the Fund, amid conditions that include reducing the fiscal deficit. Total Revenues of the National Public Sector (SPN) rose 47.8% year-on-year to $895,581 million. In turn, tax revenues grew 38.5%, a figure that is extraordinarily affected by a greater base of comparison referred to Foreign Trade taxes in January 2021, explained Economía. This was the result of the accumulation of export affidavits and a circumstantial improvement in the terms of trade in that period. On the other hand, the income associated with Social Security showed an increase of +70.3% a.i., and those associated with economic activity again showed growth above the level of prices, VAT (+53.8% i.a.) and Debits and Credits (+53.4% i.a.). Finally, the collection associated with the Earnings presented a variation of +$28,862.4 million (+55.0% a.i.).

On the other hand, the SPN’s expenditures reached an increase of 56.8%. This expansion of spending is driven both by capital investment and by the different measures of inclusion and social containment of the National Government.Previously, Argentina registered a primary fiscal red of 1.4 trillion pesos in 2021, equivalent to 3% of GDP.
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Original source in Spanish