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Primary fiscal deficit of Argentina is reduced by 47% in October

Argentina registered last October a primary fiscal deficit of 32,495 million pesos (1,835.8 million dollars), 47% lower than the negative result of the same month of 2016, reported Today official sources.

Buenos Aires, Nov 21 (EFE) .- Argentina registered a primary fiscal deficit of 32,495 million pesos (1,835.8 million dollars) last October, 47% less than the negative result of same month of 2016, official sources reported today.

The Ministry of Finance of Argentina said in a statement that this reduction is "the result of a significant slowdown in the growth of expenses, which increased only 6% with respect to the same month of 2016, and the growth of revenues of 32% year-on-year ".

" The year-on-year increase in spending observed in October is the lowest in more than a decade, "said the Argentine authorities.

Likewise, they highlighted that October was the fourth consecutive month in which revenues grew the most. that the primary expenses.

In the first ten months of the year, revenues have recorded a year-on-year growth of 31%, while primary expenses increased 24% year-on-year, according to official data.

The accumulated deficit in the first ten months of the year is equivalent to 2.5% of GDP, 0.9 percentage points below the 3.4% recorded in the same period 2016.

"The October fiscal result confirms that we are moving towards fiscal solvency Argentina is on track to close the first year, from 2004, where resources will grow by above the expense, and where the consolidated spending decreases significantly in relation to the GDP, "said Finance Minister Nicolás Dujovne.

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