THE OPC PRESENTED THE LATEST BUDGET EXECUTION REPORT TO LEGISLATORS

THE OPC PRESENTED THE LATEST BUDGET EXECUTION REPORT TO LEGISLATORS

The Argentine Congressional Budget Office presented the latest published report on the Analysis of the National Government Budget Execution – January 2024 to national legislators and their advisors.

This is one of the periodic works conducted by the OPC with the purpose of monitoring revenues collected and expenditures accrued.

The presentation was given by the OPC Director, Gabriel Esterelles, together with the directors of Sustainability and Public Debt Analysis, Joel Vaisman; of Fiscal and Tax Analysis, Martín López Amorós; of Budget Analysis, Ignacio Lohle, and the analyst of this last directorate, María Laura Cafarelli.

The purpose of the online meeting was to provide members of the Chamber of Deputies and the Senate, as well as their assistants, with technical elements to improve the understanding of the monthly report disseminated through the OPC web page, offering, at the same time, the possibility of clarifying doubts about the methodology used and the results obtained.

The good reception of this new work modality was the basis for the decision to repeat it periodically to consolidate the technical dialogue between the OPC and the National Congress.

ANALYSIS OF BILL “BASES AND STARTING POINTS FOR THE FREEDOM OF ARGENTINES” – REPORT 5 – PRIVATIZATION OF STATE-OWNED ENTERPRISES (SEC. 8 AND 11)

ANALYSIS OF BILL “BASES AND STARTING POINTS FOR THE FREEDOM OF ARGENTINES” – REPORT 5 – PRIVATIZATION OF STATE-OWNED ENTERPRISES (SEC. 8 AND 11)

Sections 8 and 11 of the Bill establish that state-owned enterprises are subject to privatization and authorize the Executive Branch to sell its share in those in which the State does not have control, a situation in which the approval of Congress is not required for a potential sale.

  • During 2023, transfers and contributions to state-owned enterprises totaled ARS2,301.385 billion, equivalent to 1.22% of GDP.
  • Most of the funds were current transfers and the rest were capital transfers, but these contributions are not directly related to the operating result.
  • As of October, 134 thousand workers were employed in the companies. Operadora Ferroviaria S.E., YPF S.A., Banco de la Nación Argentina, Correo Oficial de la República Argentina S.A., Aerolíneas Argentinas S.A. and AYSA accounted for almost 77%.
  • The lack of data on the net worth and market value of each company and of information regarding transfers and contributions in relation to the operating result does not allow estimating the fiscal impact of future actions enabled by the Bill.
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