Another financial hole: public companies lost 3,767 million dollars in 2021

In 2021 the 33 companies administered by the Argentine State recorded a negative operating balance, or operating losses, due to 357,931 million pesos. At last year’s average official exchange rate of $ 95 per dollar, the loss resulted in 3,767 million dollars, a figure equal to approximately 0.7 points of GDP. To cover this gap between current revenue and current expenses, companies in need of it were assisted by resources from the National Treasury, which last year amounted to $ 393,535 million, or US $ 4,142 million.

Data were obtained from National Budget Office dependent on the Ministry of Economy.

Ang five companies with the highest operating deficit arecaptures dollar numbers:

1.IEASA, which manages the import purchase and supply of gas, the production and sale of electricity and infrastructure works in the energy sector. The most important of these works, today, is the gas pipeline that will run between Vaca Muerta and the south of the Province of Buenos Aires. Last year, IEASA had a negative operational result of 100,438 million pesos, equivalent to (US $ 1.057 million);

2. State Railway Operator (SOFSE). It oversees rail transportation and lost US $ 947 million;

Argentina airlines lost $ 835 million;

Water of Argentinas: (had a negative operating result of $ 341 million)

Correo Argentino (lost US $ 230 million).

ang Obviously there is nuances to understand these red operatives. In the case of IEASA, the trains, or the service provided by AYSA.

“There are cases where beyond inefficiency, the company is a vehicle for a certain subsidy in a section of the population. Clearly IEASA and the railroad system are examples where losses show that their operating rate does not cover costs. IEASA’s import losses. On the contrary, I do not think that Airlines are forced to operate at a loss “reflected the economist Nicholas Gadano.

A striking case about Río Turbio Coal Deposits. He had an income of 1,503 and expenses of 10,546. Of the expenses, 68% pay the salary.

At the other extreme, there is eight State -run companies that showed positive operational results.

Above the rest Argentine nuclear power plant (NASA), the company that operates nuclear power plants that produce nuclear power for the entire country. It generated revenue of 54,000 million and had costs of 44,000 million, leaving a positive operating result of 10,450 million pesos, or 110 million dollars.

Ang General Administration of Ports showed a positive result of $ 4.295 million, or $ 45 million.

Another positive balance operates in the mining sector: Agua de Dionisio mining deposits, a company in which the provincial government of Catamarca, National University of Tucumán and National State have shareholdings. This company obtained funds for royalties paid by the Alumbrera mining company for the exploitation of the Bajo de la Alumbrera copper and gold deposit, in the province of Catamarca. It achieved an operating result in favor of $ 798 million ($ 8.4 million).

Ar-Sat, the telecommunications company also showed a positive operating result: $ 758 million ($ 8 million). The volume of revenue comes from the Universal Service Trust Fund, a tax paid by telecommunications providers. too Turuan, the educational content company, showed a positive result of $ 431 million ($ 4.5 million). It should be considered that Ar-Sat and Educ.Ar derive part of their revenue from sales to other public bodies.

Many “famous” companies appear on the list of 33 companies, but others are mostly not known for public opinion.

ADIFfor example, oversees the management of railway infrastructure. Coviara is a real estate developer belonging to the Ministry of Defense of the Nation. On paper, it focuses on building housing for Navy personnel. Dioxitec produces uranium dioxide dust for nuclear power plants.

Decahf developed the railway human capital. Also under the supervision of the national state is the Radio of the National University of the Litoral (LT10) and the Radio and Television Services of the National University of Córdoba.

Appears in the list of public companies REVENGEacronym for New Generation Space Vehicle. On its website, it presents itself as an Argentine company of high value-added technology services and development, specializing in space activities. It is under the control of the National Commission for Space Activities. He said the pillar of his management is the integrity and economic sustainability of the company.

Economist Martín Polo, who carefully monitors the costs of public sector companies, pointed out: “In the last two years there has been a huge deterioration in the results of public companies, with more than double the operating deficit. In 2017 the deficit was 3,000 million dollars, in 2019 it was reduced to US $ 1,600 million and since 2020 it has been increasing and now it is close to US $ 4,000 million In a context where the State needs to order public accounts, these are issues that need to be ordered, regardless of ideology, because the operating deficit of these companies takes up almost a third of VAT collection “

In any case, whether due to specific public policies such as subsidies, or for other less explicit reasons, the corporate State is another form of the Current State and is certainly present in various activities, with a debatable contribution to, as the Government would like to say. , improve the lives of Argentines.

Along with its loss of nearly 4,000 million dollars per year, officials are insisting on creating new taxes, permanent or temporary, when it is clear there are many black holes where the fiscal deficit has widened.