by Nicolas Perez | Nov 1, 2018 | Budget Law
By virtue of the amendments introduced by the Chamber of Deputies in the 2019 Budget Bill, resources are increased by AR$2.67 billion and expenditures by AR$24.2 billion, which creates a financing gap of AR$21.53 billion.
Under current legislation, this requires a reduction of expenditures by the same amount or to seek additional financing, which would alter the primary and financial balances.
The preliminary approval implies an increase of 0.1% in resources and an increase of 0.6% in total expenditures.
by Nicolas Perez | Oct 17, 2018 | Budget Law
This report analyzes budgetary allocations included in the 2019 Budget Bill for Public Investment, including Real Direct Investment (RDI) and Capital Transfers (CT) within this concept.
The national government public investment budget provided for next year -real direct investment and capital transfers- amounts to AR$171.57 billion, with a drop estimated at 9.7% with respect to 2018.
by Nicolas Perez | Oct 16, 2018 | Tax Policy and Fiscal Federalism
The Executive Branches of the Nation, of twenty-two provinces and of the Autonomous City of Buenos Aires (CABA) signed on November 16, 2017 a new agreement on tax matters, called the Federal Fiscal Consensus which, as stated by the National Executive Branch in its message to the National Congress, aims “to achieve a more integrated, equitable and supportive economy.” A detailed study of the degree of compliance with the obligations that such agreement imposed on all jurisdictions reveals that significant progress was made in tax matters. However, the situation is very heterogeneous when analyzing the behavior in each sector and in each province.
by Nicolas Perez | Oct 10, 2018 | Budget Law
This report analyzes the public social spending included in the 2019 National Budget Bill, from a financial and physical perspective.
For this purpose, public social spending is defined as the set of expenditures made by the National Government classified in purpose 3 as Social Services, which include expenditures related to the provision of health services, social promotion and assistance, social security, education and culture, science and technology, labor, housing and urban planning, drinking water and sewage and other urban services.
by Nicolas Perez | Sep 27, 2018 | Budget Law
National government resources as estimated in the 2019 Budget Bill amount to AR$3.42 trillion (18.6% of GDP), an increase of 42.9% in nominal terms with respect to 2018.
Total spending is projected at AR$4.02 trillion (21.9% of GDP), with an increase of 27.4% with respect to the closing projection made for 2018. On the other hand, Primary Spending is estimated at AR$3.43 trillion for 2019, equivalent to 18.6% of GDP.
by Nicolas Perez | Sep 14, 2018 | Budget Amendments
The Budget Law passed by the National Congress is amended during the year in accordance with the delegation of powers arising from the regulations in force. Within this framework, it is important to analyze such amendments to provide updated data on the budgetary dynamics throughout the fiscal year.
To this end, these periodic reports focus on the analysis of budgetary amendments made by Administrative Decisions of the Chief of Cabinet of Ministers (JGM) or by Necessity and Urgency Decrees (DNU).
