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 NATIONAL GOVERNMENT BUDGET EXECUTION – JULY 2023

ANALYSIS OF NATIONAL GOVERNMENT BUDGET EXECUTION – JULY 2023

Within a framework of a decrease in all the deficit results of the National Public Administration, in the first seven months of the year, the primary deficit decreased 22.6% in real terms with respect to the same period of the previous year.

  • Total revenues for the first seven months of the year decreased by 5.1% and total expenditures decreased by 6.0%.
  • The largest drop in revenues was recorded in Export Duties: 56.2%.
  • Primary expenditures fell 8.3% in real terms during the period.
  • The most significant real decrease was recorded in transfers to provinces (28.0% YoY), mainly due to lower assistance to provinces and municipalities and the compensation for the transfer of the police force to the Autonomous City of Buenos Aires.
  • There were also significant cuts in family allowances (25.3% YoY), energy subsidies (22.9% YoY) and social programs (21.3% YoY).
  • Debt interest payments increased 21.2%.
  • Total expenditures represented 57.9% of the current budget appropriation. Social programs such as food card benefits (84.3%), Potenciar Trabajo (81.6%) and Progresar student grants (76.6%) were above average.
  • Part of the budgetary reinforcement approved by Congress was allocated to food policies and the Progresar Plan in the amount of ARS43.705 billion and ARS31 billion, respectively.
  • There is still ARS10 billion available of the total budget reserves for the year of ARS1,207.507 billion.
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