Argentina: The primary fiscal deficit fell 44.6% in April
Source: Linkedin News
By: Aldo Leporati
The Argentine Government is not finding it easy to straighten the economy, but there are positive signs like this one. For the tenth consecutive month, resources expanded above expenses by more than 5 points. The deficit of the National Public Sector decreased 44.6% in April and in the first quarter it decreased 31.1% in relation to the same period of 2017, informed the Ministry of Finance.
In real terms, they represent the lowest level for the fourth month of the year since April 2012, and the annual decrease observed in economic subsidies (-17.6%) and the operating deficit of public companies (-96%), explains much of the containment of primary expenditures.
Social Benefits registered an increase of 30.2% year-on-year in April, driven by Retirements and pensions (31.3%), PAMI benefits (39.8%) and the rest of social programs (64%), and they represented almost 60% of primary expenditure (in the same month of 2017 their participation had been 52%). Personal spending again grew at a rate similar to that recorded in March (19.1% year-on-year), somewhat below transfers to National Universities (22.5%).
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