Argentina registered in June a deficit primary of 611,743 million pesos (2,185 million dollars), which implied an increase of 90.2% compared to the negative result of June 2022, official sources reported.
According to data from Ministry of Economyin the sixth month of the year Argentina registered a financial deficit of 708,603 million pesos (2,278 million dollars), with an interannual increase of 78.7%.
In the first half of the year, Argentina accumulated a fiscal deficit of 1.88 trillion pesos (6,717 million dollars), compared to a negative balance of 755,976 million pesos (2,700 million dollars) in the same period of 2022.
In a statement, the Argentine Ministry of Economy attributed this result to the effects of the drought that the country suffered in recent months, with a sharp drop in the collection of taxes for the export of agri-food products.
“In the first semester, the impact of the drought on the collection associated with export duties received by the national State stands out”says the statement.
According to the agreement sealed in March 2022 by Argentina and the International Monetary Fund (IMF)the South American country must lower its primary fiscal deficit this year to the equivalent of 1.9% of GDP, from 2.4% of GDP in 2022.
(With information from EFE)
Source: Gestion
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