* The Argentine government has issued an administrative decree (DA288) which increases the federal government spending limit by Ar$16.61bn (US$399.18m) this year. The decree, signed by Finance Minister
Nicolás Dujovne and Cabinet Chief
Marcos Peña, says that the decision answers to the need to provide extra funding for a number of federal institutions so that they can meet their current spending needs. However, the measure appears to go counter to the commitment made by the government led by President
Mauricio Macri in the Stand-By Agreement (SBA) it has reached with the International Monetary Fund (IMF) to have a zero primary fiscal deficit this year. Indeed, according to the local press the spending limit increase would result in a primary fiscal deficit of Ar$15.94bn this year.
End of preview - This article contains approximately 130 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options