ejecución presupuestaria - Oficina de Presupuesto del Congreso

ANALYSIS OF NATIONAL GOVERNMENT BUDGET EXECUTION – AUGUST 2021

by Nicolas Perez | Sep 14, 2021 | Budget Execution

Driven by the strong increase in Export Duties, VAT, and Income Tax, in that order, National Government revenues increased by 12.3% in August in real terms year-on-year (YoY).

Mainly because of the increase in capital expenditures and energy subsidies, primary expenditures once again grew above inflation for the second time this year, breaking the opposite trend they had shown in the last five months: 5.0% YoY.

The dynamics between revenues and expenditures resulted in an improvement in real terms of the primary, fiscal, and revenue deficits: he year-on-year comparison showed a decrease of 39.3%, 21.7% and 13.3%, respectively.

Social Security contributions grew 4.2% year-on-year. The number of contributors to the system increased but taxable income grew below inflation.
Since May, ARS179.285 billion have been collected through the Solidarity and Extraordinary Contribution and ARS65.938 billion have been spent.
Subsidies to the Compañía Administradora del Mercado Mayorista Eléctrico (CAMMESA) amounted to ARS102.935 billion with an increase of 126.6% YoY because of the gap between the cost of generation and tariffs and the delay in payment by the electricity distributors.
At the end of August, approximately ARS256.75 billion were executed, equivalent to 61.5% of the current appropriation (ARS417.187 billion) to meet the expenses related to the fight against COVID-19.
The initial budget for the year was increased by ARS1.015 trillion, with priority being given to social programs, energy subsidies and the procurement and distribution of vaccines.

ANALYSIS OF NATIONAL GOVERNMENT BUDGET EXECUTION – JUNE 2021

by Nicolas Perez | Jul 15, 2021 | Budget Execution

Because of a real fall in National Government expenditures, mainly in pensions and government wages, and an increase in the different revenue categories, public accounts improved, and the primary deficit was ARS473.1 billion, 64.0% less than that of the previous year.

Revenues showed a real expansion of 18.7% year-on-year (YoY), with the Solidarity and Extraordinary Contribution (ARS144.4 billion) and the jump in Export Duties (97.9% YoY) standing out.
Primary expenditures contracted by 7.3% YoY, mainly due to the negative variations in pensions (9.6% YoY) and government wages (5.0% YoY). On the other hand, there were significant increases in capital expenditures (92.1% YoY) and in energy subsidies (43.9% YoY).
The level of spending on social programs fell in real terms compared to last year but was three times higher when compared to the same period of 2019.
The initial budget for the fiscal year increased by ARS273.32 billion, whose priority allocations were social programs (REPRO II, PROGRESAR and PAMI, among others) and the acquisition, logistics and distribution of COVID-19 vaccines.
As of June, approximately ARS177.33 billion were implemented to address the health crisis, equivalent to 43.3% of the current appropriation (ARS409.6 billion).
As of June 30, total expenditures amounted to ARS4.21 trillion, equivalent to 48.6% of the current budget appropriation, with government wages accounting for 60.0%.

ANALYSIS OF NATIONAL GOVERNMENT BUDGET EXECUTION – MAY 2021

by Nicolas Perez | Jun 10, 2021 | Budget Execution

The increase in total resources (net of Central Bank profits) and a decrease in expenditures led the National Government to record another decrease in the primary deficit in May, which reached AR$ 72.8 billion, an improvement in real terms of 81.2% with respect to the imbalance recorded in the same month of last year.

Excluding transfers from the Central Bank to the Treasury, total revenues expanded by 41.5% year-on-year (YoY) during May, mainly because of the growth in tax revenues, to which was added AR$ 58.24 billion from the Solidarity Contribution in the context of the pandemic.
Primary expenditure declined because of the drop in pensions (10.0% YoY) and public sector salaries (7.9% YoY), but also because the funds allocated to mitigate the effects of the health crisis were lower in the year-on-year comparison with May 2020.
Total expenditure, including debt interest payments, contracted 15.8% YoY.
Expenditures on social programs was reduced by 41.5%, basically because of the discontinuation of the IFE and the AETP. However, other social assistance programs were strengthened and, in some cases, increased by more than 70%.
There was a real increase of 36.3% in capital expenditures for the month of May (AR$ 58.69 billion), with increases in all components, but mainly in the funds allocated to the Pro.Cre.Ar. housing plan.
Expenditures related to the COVID-19 pandemic totaled AR$125.43 billion at the end of May. The funds allocated for this purpose increased by 308.9% since the budget began to be executed, partly because of higher exceptional revenues.

ANALYSIS OF NATIONAL GOVERNMENT BUDGET EXECUTION – APRIL 2021

by Nicolas Perez | May 13, 2021 | Budget Execution

Because of the increase in resources and the decrease in expenditures, in April the primary and financial deficits fell by 85.2% and 77.4%, respectively, compared to the negative figures for the same month of last year. The economic result was positive by AR$15.97 billion.

These figures do not include the exceptional transfer of profits of AR$230 billion made by the Central Bank to the Treasury in April last year.

Tax revenue and Social Security resources grew significantly, by 44.9% and 14.2% year on year (YoY) in real terms, respectively. In both cases, the low comparison base resulting from the Mandatory Preventive Social Isolation (ASPO), which came into effect on March 20, 2020, had an impact.
Expenditures related to the COVID-19 pandemic were lower than those of last year and this influenced a drop in primary spending. In this item, social benefits and transfers to provinces fell by 26.8% YoY and 64.9% YoY, respectively.
Expenditures on personnel and pensions decreased at rates of 12.9% YoY and 13.4% YoY, respectively.
In the first four-month period, 97.4% of the budget allocated to REPRO II, prior to the last budget expansion provided for by Administrative Decision 460/2021 at the beginning of May, has already been executed.
In April, the implementation of social programs reached 41.1% of the appropriation allocated for the year, above the general average of 28.1%.
During the first four months of the year, the initial approved budget increased by AR$47.9 billion. Among the items that had the largest increases in relation to their initial appropriation were the purchase of vaccines against COVID-19 and logistics and distribution services (AR$29.2 billion), and the REPRO II Program (AR$22.2 billion).

ANALYSIS OF NATIONAL GOVERNMENT BUDGET EXECUTION – NOVEMBER 2020

by Juan Fourcaud | Dec 14, 2020 | Budget Execution

During the month of November, total revenues of the National Government showed an expansion in real terms of 27.0% year on year (YoY) because of the transfer of profits from the Central Bank of Argentina (BCRA) to the National Treasury in the amount of AR$150 billion. If these resources are excluded, total revenues would have fallen by 7.4% YoY.
Tax revenues fell 6.0% YoY, and the 31.1% YoY increase in Income Tax revenues failed to offset the drop in VAT (4.5% YoY) and Export Duties (46.0% YoY).
Primary expenditures (after adjustment of capital expenditures executed in previous years) had, for the first time since March, a variation of less than two digits (1.7% YoY).Considering debt interest (-39.6% YoY), total expenditures in November fell by 18.4% YoY.
By the end of November, AR$32.8 billion of expenditures related to COVID-19 were recorded.
The primary balance shifted from a deficit of AR$105.5 billion in November 2019 to a monthly surplus of AR$57.1 billion in November 2020. The negative financial balance decreased from AR$186.6 billion to AR$9.8 billion.
However, if exceptional revenues, such as transfer of profits from the Central Bank to the Treasury, and expenditures recorded in 2019 that belong to previous fiscal years are not included, November’s primary deficit is equivalent to AR$92.9 billion, which implies a 77.4% deterioration compared to the one recorded in the same period of 2019.
The Pensions item had a contraction of 5.2% YoY due to the decrease in the number of beneficiaries of the system and the benefit mobility policy.
Economic subsidies (AR$60 billion) had a real YoY increase of 19.6%, basically due to those related to energy.
The initial budget for the fiscal year increased by AR$2,7 trillion and 62.9% of this amount was allocated to reinforce social benefits.
Executed expenditure as of November 30 represents 80.6% of current budget appropriation.

BUDGET EXECUTION OF GENDER – RESPONSIVE ACTIVITIES

by Juan Fourcaud | Dec 1, 2020 | Gender

This report analyzes the execution, as of November 13, of the budgetary activities labeled by the Executive Branch for their connection to gender equality.

As of November 2020, the National Budget includes thirty-five (35) budgetary activities with a gender perspective. These activities accrued an expenditure of AR$832.2 billion as of November 13, 2020, which accounted for 14.6% of the total expenditure of the National Government.

Income policies (direct monetary transfers) amounted to approximately 99% of Gender-Responsive Budget (GRB) and ANSES, the agency in charge of managing and administering these policies, practically concentrated the entire GBR spending. The purpose of this social policy is to achieve financial independence for female beneficiaries.

The level of physical execution of monetary transfers is very uneven. Some activities exceed 99% and others are barely above 26% of the annual schedule.
There are new activities labeled in the 2021 Budget for the promotion of income.
The budget for actions against gender-based violence was nominally doubled in relation to the extended 2019 appropriation, but the average level of execution is 46%.
As of the third quarter of 2020, 124,468 victims of gender violence were assisted through the 144 hotlines.
Out of the 55,000 doses for hormone treatments projected under the Gender Identity Law, 32,703 were distributed.