At the end of the third quarter, National Government accounts showed further negative results with a primary deficit of ARS1,741.198 billion and a financial deficit of ARS2,648.506 billion, which are 66.9% and 36.1% higher than those recorded in the same period of the previous year.

  • The fiscal deficit was ARS1,866.297 billion, 75.0% higher YoY.
  • Tax and Social Security revenues increased by 4.7% YoY and 6.2% YoY, respectively, which were not enough to offset the fall in other items.
  • In the first nine months of the year, total revenues fell 6.5%, basically due to the drop in the collection of the Solidarity and Extraordinary Contribution and the absence of the IMF’s Special Drawing Rights (SDR), which were received in 2021.
  • Expenditures fell 14.7% in the third quarter. In the first quarter it had risen 18.4%.
  • Expenditure on social programs increased 9.8% YoY, basically because of the higher number of beneficiaries in Potenciar Trabajo and Alimentar programs.
  • At the end of the third quarter of the year, total expenditures amounted to ARS11,602.242 billion, equivalent to 71.2% of the current budget appropriation, with higher execution in social programs and lower in investments.
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