The National Treasury closed September with a primary surplus of $5,284.2 million thanks to the strong increase generated by settlements for the “soybean dollar”, according to the Palacio de Hacienda
In the reference period, the total income of the National Public Sector (SPN) amounted to 1,642,820 million pesos.
“Tax revenue grew 116% year-on-year, mainly driven by the increase in export duties associated with the liquidation of exports from the soybean complex carried out during the month within the framework of the Export Increase Program,” said the Ministry of Economy.
Revenue from export duties in September was $322.33 billion. It also contributed Income (119.6% yoy), Debits and Credits (90.1% yoy), those related to social security (86.0% yoy) and VAT net of refunds (83.4%).
Thus, between January and September a primary deficit of 1,096,052 million pesos accumulates
The primary expenditure of the SPN reached 1,562,196 million pesos and presented a rise of 78.9% yoy
At the same time, the cumulative primary spending of the SPNl during the January-September period showed a variation of 73.7% year-on-year compared to the same period of the previous year, deepening the path of deceleration of primary spending.
“It is important to mention that primary spending fell for the third consecutive month in real terms, within the framework of a fiscal ordering process,” the official information highlighted.
In this way, between January and September, a primary deficit of $1,096,052 million and a financial deficit of $1,959,831 million accumulate, a result that represents the fulfillment of the fiscal goal stipulated for the third quarter, within the framework of the Facilities Agreement. Extended with the International Monetary Fund.
