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

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

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

DIFFERENTIAL ELECTRICITY RATES AND CREATION OF A TRUST FUND FOR ELECTRICITY CONSUMPTION IN THE NORTHEASTERN REGION OF THE COUNTRY

The bill proposes the implementation of differential electricity rates for Chaco, Corrientes, Formosa, Misiones and northern Santa Fe – as long as those areas do not have natural gas network connection -, resulting from the application of the ENRE’s rate schedule reduced by at least 30%.

For lack of information, the OPC is not in a position to estimate an accurate fiscal cost of the bill under analysis.

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