- There are a significant number of trust funds in the Argentine Public Sector (National, Provincial and Municipal). This report focuses on the twenty-eight trust funds of the National Non-Financial Public Sector in which the National Government is the trustee.
- The budgetary regime of trust funds does not follow the same rules as those governing the National Government Budget.
- In 2021, the expenditures of these funds were equivalent to 0.7% of the national GDP, and their resources amounted to 2.1%.
- Trust Funds grew at a higher rate than expenditures as of 2018, generating a liquidity surplus: the financial surplus expanded from 0.08% of GDP in 2012 to 1.42% of GDP in 2021.
- In 2021, 58% of Trust Funds resources were provided by the National Treasury, 18% from tax revenues and 17% from property income.
- The main funds are used to subsidize energy and transportation or to finance public works.
- Necessity and Urgency Decree (DNU) 829/2022 banned transfers to trust funds, state-owned enterprises, and other entities with freely available funds from January 1, 2023.
- Not all trustees report the details of the transfers made to the beneficiaries.
ECONOMIC AND FINANCIAL STUDY ON TRUST FUNDS
17 January, 2023
