Kicillof’s government announced the end of the first half of the year with a primary surplus

Days before the end of July, the Government of the province of Buenos Aires shared the data released by the provincial Ministry of Economy on the closing of the first half of 2024 with a primary surplus. As reported, the province ended the first six months of the year with a financial deficit of $122,382 million, equivalent to -1.2% of total revenues, and achieved an economic surplus of $274,809 million, 2.7% of current revenues. These results occurred in a context of a real fall in resources of 16%. In addition, Kicillof’s administration pointed out that non-automatic transfers fell by 91% by decision of the national government, which includes the elimination of the Fiscal Strengthening Fund, which led to filing a claim before the Supreme Court, and the decrease of the Teacher Incentive Fund (FONID), which affected all provinces. Then, the province’s total expenditures amounted to $10,275,815 million, an increase of 204.3% compared to the previous year, and capital expenditures were $406,633 million, affected by the interruption of national transfers for co-financed works and the lack of approval of multilateral financing. In addition, it was added that the Tax Tax Law sanctioned last year, helped to prevent there from being a lack of financing. In view of this, the administration highlighted the result of the management of public accounts “despite the brutal adjustment carried out by the national government”, because “the Province has made an important effort during the first half of 2024 to maintain the continuity of public works, social support programs, promotion of production and employment”.

Original source in Spanish