In a context of economic downturn, in March the national government had a better performance compared to the same month of the previous year, but liquefied the surplus recorded in the first two months of the year.
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The National Government recorded in the first quarter a financial deficit of AR$42.19 billion, which implies a real drop of 47.9% compared to the same period of 2018.
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Total revenues increased 39.4% YoY, and expenditures increased 34.0% YoY.
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Export duties increased by 477.0.% YoY, becoming the most dynamic source of resources in the period.
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Interest payments on public debt rose 65.1% YoY and economic subsidies doubled (107% YoY).
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Capital expenditure remains at the same levels as a year ago, which means a fall in real terms of 33.7% YoY.
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As of March 31, the initial budget appropriation was increased by AR$40.32 billion, AR$34.57 billion by Necessity and Urgency Decrees – DNU (86%) and AR$5.73 billion by Administrative Decisions – DA (14%).
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The level of total expenditure implementation in the quarter was 19.1%.