adelantos transitorios Banco Central - Oficina de Presupuesto del Congreso

PROGRESS REPORT ON THE BILL OF THE GENERAL BUDGET OF THE NATIONAL GOVERNMENT FOR THE YEAR 2025

by Nicolas Perez | Aug 15, 2024 | Budget Law

The report basically summarizes macroeconomic projections for the current year, budget execution through May 2024, estimated revenues and financing strategy for 2025, and government employment management. The description of the scenario and the budgetary policy proposals refer to:

In the first five months a primary surplus of 1.1% of Gross Domestic Product (GDP) and a financial surplus of 0.4% of GDP were achieved, after debt interest payments.
In 2024, GDP will fall by 3.5%.
The trade surplus will exceed USD 21 billion.
Zero deficit and sustained fiscal balance is a political priority. Also, the social assistance without intermediaries, the modernization and simplification of the State and the equipment and modernization of security and defense.
National revenue will increase 54.4% next year and the tax burden will be reduced by 0.45 percentage points.
The maturity profile is expected to be extended and the financial burden on the Treasury’s accounts is expected to be reduced.

PUBLIC DEBT OPERATIONS – JUNE 2024

by Nicolas Perez | Jul 19, 2024 | Public Debt Operations

In June, the stock of public debt increased, both in pesos and in foreign currency. At the end of the month, the amount payable in domestic currency reached ARS166,535.716 billion, 4.2% higher than the previous month. Foreign currency debt amounted to the equivalent of USD255.045 billion, USD372 million more than at May’s closing.

The increase in the stock of debt in pesos of ARS6,667.648 billion was the result of the combined effect of the increase in the exchange rate, inflation, and the capitalization of interest, which was partially offset by the net cancellations of principal.

Seventy-nine percent of the debt in pesos is adjustable by CER (Reference Stabilization Coefficient).
The 8th disbursement of the IMF loan for the EFF Program was received for the equivalent of USD791 million.

In June, the Treasury recorded no net financing for temporary advances, the stock of which has not changed since August 2023.

Maturities between July and December in domestic currency amount to ARS37,461.876 billion and in foreign currency are estimated at USD14.524 billion.