2023-08-23 17:01:10
Argentina registered a primary deficit of 334,366 million pesos (955.3 million dollars) in July, which implied an increase of 106% in real terms (discounting inflation) compared to the negative result of July 2022.
According to data from the Ministry of Economy, in the seventh month of the year Argentina registered a financial deficit of 754,243 million pesos (2,155 million dollars), with a year-on-year increase of 472.9%.
In the first seven months of the year, Argentina accumulated a fiscal deficit of 2.2 trillion pesos (6,328 million dollars), compared to a negative balance of 757,921 million pesos (2,165 million dollars) in the same period of 2022.
The impact of the drought
In a statement, the Ministry of Economy attributed this result to the impact of the drought that the country suffered in recent months on the collection from exports of agri-food products.
“If this reduction had not occurred, the primary deficit of the National Public Sector accumulated between January and July would present an improvement of 0.5% of GDP,” the statement said.
The primary deficit accumulates 1.35% of GDP in seven months, according to an SBS report, which leaves room for a primary fiscal red of 0.55 percentage points of GDP in the remaining five months to meet the goal of 1.9 % of the GDP of the program with the International Monetary Fund (IMF).
According to the agreement signed in March 2022 with the IMF, Argentina must lower its primary fiscal deficit this year to the equivalent of 1.9% of GDP, from 2.4% of GDP in 2022.
1692810515
#July #primary #fiscal #deficit #national #State #grew #yearonyear #real #terms
