OPC 5 Budget Execution 5 ANALYSIS OF NATIONAL GOVERNMENT BUDGET EXECUTION – AUGUST 2024
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ANALYSIS OF NATIONAL GOVERNMENT BUDGET EXECUTION – AUGUST 2024

06 September, 2024
Oficina de Presupuesto del Congreso, ejecución presupuestaria, resultado primario, resultado financiero, superávit, déficit, jubilaciones, transferencias, subsidios

In the first eight months of the year, total revenues fell by 4.2% in the year-on-year comparison, while the decline in expenditures reached 27.4%. Although there was a financial deficit in August, there was a surplus in this item, which includes the payment of interest on the debt. The National Government recorded a primary surplus, both in August and in the first eight months of the year, totaling ARS7.6 billion.

  • National Government revenues totaled ARS54.7 billion, which implied a contraction in real terms of 4.2% year-on-year (YoY).
  • Revenues linked to the exchange rate grew: Export Duties increased 34.8% YoY and PAIS Tax collection rose 249.9% YoY. The rest of the taxes contracted in real terms.
  • Total expenditures amounted to ARS54.2 billion. Proportionally, the fall in real terms was more pronounced in pensions and capital expenditures.
  • In August, pensions above the minimum benefit recovered 9.8% in real terms with respect to December 2023. Minimum benefits fell 5.4% given that the reinforcement bonuses have not been updated since March.
  • The current budget appropriation increased 133.8% year-to-date and 57.6% of this budget was executed on average up to August.
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