Public investment (PI) executed during 2022 showed a real fall of 38.3% compared to fiscal year 2021, basically due to lower capital transfers to trust funds, state-owned enterprises and provinces.

  • Transfers to trust funds (ARS254.372 billion) fell 55.8% year-on-year (YoY), mostly driven by the reductions in the PROCREAR program.
  • Transfers to the province of Buenos Aires decreased 43.2% YoY. Chubut, Córdoba, and Salta suffered more significant reductions.
  • Real direct investment fell 9.9% YoY, affecting the main item, which consists of projects for the construction and maintenance of highways and roads.
  • Despite the reduction in the last fiscal year, public investment remained at higher levels compared to the 2018-2020 triennium.
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