OPC 5 Budget Execution 5 ANALYSIS OF NATIONAL GOVERNMENT BUDGET EXECUTION – OCTOBER 2023

ANALYSIS OF NATIONAL GOVERNMENT BUDGET EXECUTION – OCTOBER 2023

14 November, 2023

During the first ten months of the year, the primary deficit was reduced by 11.7% and the financial deficit by 6.9%.
This situation resulted from a real contraction of 3.6% YoY in revenues and 4.3% YoY in expenditures.
Total revenues as of October 31 amounted to ARS21,755.924 billion, – 3.6% as compared to the same period of the previous year.
Export Duties fell 63.8% YoY, a drop linked to lower agricultural sales due to the drought.
The largest expenditure cuts were recorded in family allowances (28.5% YoY) and in energy subsidies (25.8% YoY).
The third item is Pensions, which fell 3.5%, mainly due to the differential between the benefit mobility formula and inflation.
The expenditure budget increased by 30.6% with respect to the original amount. However, transportation subsidies, transfers to provinces and social programs doubled the increase.