In January, mainly due to the contraction of expenditure, a primary surplus of ARS324.911 billion was recorded, 186.6% higher than in the same month of the previous year in real terms.

  • The financial and economic results were also positive, by ARS63.724 billion and ARS93.006 billion, respectively.
  • Total revenues expanded 0.3% in the year-on-year comparison, with a strong increase in property income, which grew 51.6% year-on-year (YoY).
  • This increase was insufficient to offset the decline in foreign trade duties.
  • Total expenditures fell 12.7% YoY and primary expenditure declined 13.9% YoY.
  • The largest decreases were recorded in economic subsidies and capital expenditures.
  • Social expenditures increased 12.1% YoY above inflation.
  • No expenditures were recorded in January for energy subsidies and railroad transportation subsidies, which were recorded in February.
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