BONCER TZXD5 - 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 – MARCH 2024

by Nicolas Perez | Apr 18, 2024 | Public Debt Operations

In March, the stock of public debt payable in domestic currency reached ARS121,649.577, which implies an increase of 13.5% with respect to the closing of February. The amount payable in foreign currency remained at a similar level and reached USD258.766 billion on the last day of the third month of the year.

Eighty-two percent of bonds in pesos are adjustable by CER (Reference Stabilization Coefficient).
In March, the net issuance of peso-denominated debt amounted to ARS3,442.128 billion.
Securities payable in pesos for ARS43,829.631 billion were swapped.
Debt in foreign currency decreased by USD467 million with respect to February’s closing.
Debt in foreign currency for USD408 million was cancelled, mainly payments to multilateral credit organizations and to the Paris Club.
Estimated debt service for the April-September term in domestic currency amounts to ARS15,822.393 billion and in foreign currency to USD16.42 billion.
In March, payments to the IMF totaled the equivalent of USD4.156 billion.