The agreement between the Government and the International Monetary Fund (IMF) to support the fiscal surplus in 2025 represents a significant challenge in terms of economic adjustment and public resources management. This plan, which seeks to consolidate macroeconomic stability, implies a series of measures aimed at reducing public spending and optimizing income, while facing inflationary pressures and social demands.
The Ministry of Economy accumulated a primary surplus of $ 4.5 billion in the first quarter of the year and has set the goal of reaching $ 6 billion for May, as part of the program signed with the IMF. This objective is part of a broader commitment to achieve a primary surplus of 1.3% of the Gross Internal Product (GDP) for the year, although the Government He has announced his intention to raise this 1.6% figure on GDP.
The agreement also includes structural reforms in key areas such as the tax system, income co -participation and the retirement system. These reforms seek to improve the efficiency of public spending and ensure long -term fiscal sustainability.
The plan agreed with the IMF establishes a road map to identify the items of public spending that will be targeted. Among the main adjustments are: energy subsidies and transport: Energy subsidies have experienced a significant reduction, with a 52.9% drop in real terms due to lower imported gas purchases and the decrease in subsidies to electricity generation.
Transportation subsidies have also been adjusted, with a contraction of 33.1%. Investment in infrastructure has been one of the most affected sectors, with a reduction of more than 80% year -on -year in some months. This adjustment seeks to release resources for other priority areas.
Public wages have experienced a decrease of 9.3%, the result of parity below inflation and the reduction of positions in the public administration. Although retirement and pensions have registered a growth of 28.1% in real terms, this increase has been compensated by the elimination of other social programs and the completion of the country tax.
Impact on income
On the income side, the Government It has implemented measures to compensate for the elimination of extraordinary taxes such as the country tax and the temporary reduction of taxes on exports of agricultural products. These measures include the restoration of personal income tax and projected cyclical recovery.
In addition, the recovery in social security income has been a key factor, with a growth of 33% year -on -year. This increase reflects an improvement in salary mass and, consequently, in internal consumption. The support of the fiscal surplus in a context of high inflation and social demands represents a significant challenge for the Government. Although the agreement with the IMF establishes clear goals, its compliance will depend on the capacity of the economic team to implement the necessary reforms and manage resources efficiently.
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