In April the primary deficit was $ 79,184 million, a jump of 591% a year

The National Public Sector had in April a primary deficit of $ 79,184.8 million, jumped 591% year-on-year, because in the same month last year the result was $ 11,445 million. If the interest payment on the loan is also calculated, the financial red is $ 146,314.6 million, an increase of 156%.

Last month, total national public sector revenue reached $ 1,085,581.8 million, an increase of 77.9% year-on-year.

The April data report released by the Ministry of Economy states that it is “Capital investment along with measures of inclusion and social restraint“which pushed the expansion of primary spending, which reached $ 1,164,766.6 million, jumped 87%.

In the quarter the main deficit was $ 271.92 billion.

Again, as happened in March, the Treasury used property income to enlarge public accounts and limit red. In April these revenues, which explain the income received by the State for financial assets in its possession, whether fixed terms or public securities, were reached. $ 134,799.7 million, indicating an increase of 1041% compared to the same month last year.

For economist Martín Polo, “without drawing revenue, the deficit for the first four months of the year reached 4% of GDP”.

After the noise generated by the March results, when some analysts indicated that the government was using “creative accounting” to meet current deficit objectives in the Monetary Fund agreement, the Ministry of Economy clarified that in May ” For a better identification of fiscal dynamics, the disaggregation of this concept within property income will be published. ”

This indicates that from this month A cap of 0.3% of GDP may be applied to calculate the revenues of this property.

The statement explains that “for the purposes of the policy objectives contained in the economic program in line with a key deficit target of 2.5% of GDP, an annual limit will be established for the calculation of revenues from rents. of property associated with major issuances. of public securities equal to 0.3% of GDP, representing an income/GDP ratio equal to the magnitude registered for the same concept during fiscal 2021 “.

In this way, starting in May, the main result that includes this limit will be added to the standard communication of income and expenditure of the national public sector.

In April, current transfers reached $ 447,590.0 million, an increase of 124.4%. These include increases in the Empower Work program ($ 33,229.6 million); the growth of Food Policies ($ 8,800.0 million) and the bonuses and increases given to retirees.

In addition, there has been a significant step in terms of energy subsidies: transfers to CAMMESA totaled $ 53,784.1 million, “product of rising international hydrocarbon prices due to the war between Russia and Ukraine.” Energy subsidies reached $ 96,834 million in April, an increase of 148.4% year-on-year.

AQ