- In the first three months of the year, total revenues of the National Government grew in real terms by 3.6% compared to the same period of the previous year.
- Tax revenues increased by 2.3% year-on-year (YoY) and Social Security contributions by 7.2% YoY.
- Primary expenditures grew 16.5% YoY, basically driven by energy subsidies, which increased by 90.1% YoY, social benefits, which increased by 9.0% YoY, and capital expenditures, which increased by 30.9% YoY.
- Total expenditures, primary expenditures plus interest on debt, increased 18.0% YoY.
- The primary deficit reached ARS392.842 billion and increased by 409.3% YoY in real terms, and the financial deficit (ARS659.926 billion) increased by 141.9% YoY.
ANALYSIS OF NATIONAL GOVERNMENT BUDGET EXECUTION – MARCH 2022
April 13, 2022