Buenos Aires Times

economy ECONOMIC INDICATORS

Fiscal deficit dropped to 1.1% of GDP in first 9 months of 2018

The Ministry posted a fiscal deficit of 22.9 billion pesos (US$622 million) in September, bringing the total deficit to 153 billion pesos (US$28 billion) in the first nine months of 2018.

Monday 22 October, 2018
Nicolás Dujovne.
Nicolás Dujovne. Foto:NA

More Economy News

Argentina's fiscal deficit fell 1.1 percent of the Gross Domestic Product (GDP) between January and September this year, compared to 2.1 percent over the same period in 2017, the Finance Ministry announced today.

The Ministry posted a fiscal deficit of 22.9 billion pesos (US$622 million) in September, bringing the total deficit to 153 billion pesos (US$28 billion) in the first nine months of 2018.

The figures put the government on track to beat its 2.6 percent 2018 deficit target set earlier in the year, Treasury Minister Nicolás Dujovne said at a press conference, adding that it offered improved hopes the government would meet its target for the next calendar year.

The government intends to post a zero deficit in 2019, in line with commitments made by the Mauricio Macri administration in order to secure a credit loan worth US$57.1 billion with the International Monetary Fund (IMF).

“In the first nine months of the year, spending contracted seven percent when compared to the same period last year. We are at the lowest level of government spending since 2012,” Dujovne told reporters in Buenos Aires.

- TIMES/AFP

Poll

Op-Ed

Top Stories

  1. 1Drug-trafficking arrests totalled 64k during Macri gov't, says Security MinistryDrug-trafficking arrests totalled 64k during Macri gov't, says Security Ministry
  2. 2Peso closes at $40.71 to the dollar as demand for US currency spikes
  3. 3Coca-Cola FEMSA files for crisis prevention proceedings
  4. 4Venezuela's Maduro closes Brazil border to block humanitarian aid
  5. 5Chile's Piñera sparks talks on Prosur, new union to replace fractured Unasur
  6. 6Economy set for slow recovery in 2019, experts say
  7. 7Journalists to pay damages to ex minister over 'false' drug trafficking report
  8. 8The global pervasiveness of the sex abuse problems in the Catholic Church
  9. 9Caught in the crossfire
  10. 10UCA report: Half of Argentina's children live in poverty