The Ministry of Economy reported this Friday that a primary deficit of 2.4% of GDP was achieved in 2022 and an overrun of the target of 2.5% was achieved. agreed with the IMF.
The overcompliance was possible “on the basis of a series of tax decisions taken by the authorities of the Ministry of the Economy in order to sorts pre-existing public accounts and variances“, indicated the Palazzo delle Finanze in a statement.
The translation of this is that Minister Sergio Massa made a strong adjustment: expenses grew 70.5% over the year, well below inflation, which was 94.8%.
In December, the National Public Sector (SPN) posted a primary deficit of $502,128.2 million. Thus, between January and December, a primary deficit of 1,955,140.8 million dollars accumulates, “considering the limit on income from primary issues of government bonds (0.3% of GDP)”.
In the last month of last year, the total income of the SPN amounted to $1,688,118.6 million, a 92.0% year over year increase. Income from primary issuance of government bonds for December was $60,616.2 million.
Tax revenues grew 89.5% in the month, driven mainly by increases in profits (126.7%), social security contributions (89.6%) and export duties (92.1%). as a result of the introduction of the soybean dollar 2.
Domestic public sector primary spending reached $2,129,631 million and presented a 54.8% increase. At the same time, the primary expenditure accumulated during 2022 of the National Public Sector showed a variation of 70.5% on an annual basis, and recorded a deceleration for six consecutive times in this indicator.
Source: Clarin
