by Nicolas Perez | Apr 11, 2019 | Budget Execution
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$5.73 billion by Administrative Decisions – DA (14%).
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The level of total expenditure implementation in the quarter was 19.1%.
by Nicolas Perez | Dec 18, 2018 | Budget Execution
In November, the National Government primary deficit was AR$ -39.8 billion, 240% higher than in the same month of the previous year, while the financial deficit reached AR$ -55.6 billion, increasing by 70% the negative performance with respect to November 2017.
Total expenditure grew 8.3 percentage points above total revenues, basically boosted by a rise in economic subsidies.
In the cumulative of the first eleven months of the year, the negative primary balance was 34% lower in real terms than that recorded in the same period of the previous year, while the financial balance increased by 0.4%. At the end of November, the initial budget appropriation increased by 20% by virtue of Necessity and Urgency Decrees and Administrative Decisions.
by Nicolas Perez | Nov 1, 2018 | Budget Law
By virtue of the amendments introduced by the Chamber of Deputies in the 2019 Budget Bill, resources are increased by AR$2.67 billion and expenditures by AR$24.2 billion, which creates a financing gap of AR$21.53 billion.
Under current legislation, this requires a reduction of expenditures by the same amount or to seek additional financing, which would alter the primary and financial balances.
The preliminary approval implies an increase of 0.1% in resources and an increase of 0.6% in total expenditures.
by Nicolas Perez | Oct 17, 2018 | Budget Law
This report analyzes budgetary allocations included in the 2019 Budget Bill for Public Investment, including Real Direct Investment (RDI) and Capital Transfers (CT) within this concept.
The national government public investment budget provided for next year -real direct investment and capital transfers- amounts to AR$171.57 billion, with a drop estimated at 9.7% with respect to 2018.
