Public Investment executed by the national government in 2020 amounted to AR$ 300.45 billion, a drop in real terms of 16.9% YOY (year-over-year) but turns into an increase of 12.9% if we exclude from 2019 the recording of AR$ 67.27 billion for the expenditure adjustments made in other fiscal years. While Direct Investment, one of the two concepts of Public Investment, shows a drop of 55.1% YOY, Capital Transfers show an increase of 42.9% YOY.
- The fall of Direct Investment is due to the delays in the execution of the works that were partially offset by the purchase of sanitary and laboratory equipment by the Ministry of Health in the framework of the health emergency caused by COVID-19.
- The 2019 Budget, extended during 2020, included 1,082 works. During 2020, only 487 of them were executed. More than half of the accrued in investment projects was concentrated in 15 works, mostly for the construction of highways within the scope of the National Road Authority (Dirección Nacional de Vialidad)
- Of the growth in Capital Transfers, 47.6% went to State-owned companies. AYSA S.A. and IASA S.A. stand out with increases of 64.8% YOY and 128.2% YOY respectively, compared to those made in 2019.
- From a geographical point of view, more than half of Public Investment focused on the Pampas region, followed by an unspecified region.
- Public Investment as a percentage of the Gross Domestic Product (GDP) was 1.1%. If the adjustments mentioned above are not considered, 2019 becomes the year with the lowest investment, equivalent to 0.9% of GDP.