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LatinNews Regional Monitor: Brazil & Southern Cone - 24 June 2019

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In brief: Argentina

* Argentina’s treasury ministry has released a statement noting that the country posted a primary fiscal surplus of Ar$25.97bn (US$586m) in May. The May fiscal surplus is much higher than the Ar$7.81bn surplus registered in the same month of 2018. The statement points out that the surplus was achieved thanks to a 53% year-on-year increase in the government takings that offset the 35.5% increase in primary government spending. Nevertheless, the ministry said that, despite the positive result, the government still posted an overall fiscal deficit of Ar$38.6bn in the month, 41% higher than the deficit recorded in May 2018. The increase in the overall fiscal deficit was attributed to the higher interest payments paid by the government on its debts in May.