OPC 5 Budget Execution 5 ANALYSIS OF NATIONAL GOVERNMENT BUDGET EXECUTION – NOVEMBER 2022

ANALYSIS OF NATIONAL GOVERNMENT BUDGET EXECUTION – NOVEMBER 2022

In the first eleven months of the year, the primary deficit in real terms was 7.7% lower than that accumulated in the same period of the previous year, and the financial deficit fell by 4.1%.

  • – The negative primary result for the period amounted to ARS1,954.512 billion, equivalent to 2.4% of GDP.
  • – Adding interest payments on the debt, the figure rises to ARS3,224.651 billion, 3.9% of GDP.
  • – With the reduction of the Solidarity and Extraordinary Contribution and without the Special Drawing Rights received last year, resources fell 4.5%.
  • – In the last five months, primary expenditures fell 18.8% year-on-year, which contrasts with the 12.5% increase in the first half of the year.
  • – In November, capital expenditures recorded the sharpest fall of the year (79.3%), basically because of the decrease in transfers to trust funds and State-owned enterprises.
  • – As of November, budget appropriations rose by 54.4%, and more than half of the increase was concentrated in pensions, energy subsidies and social programs.
  • – Ninety-five percent of the budget increases were approved by DNU and 5% by administrative decision.
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