* Argentina’s economy ministry has reported that the country closed the year 2019 with a primary fiscal deficit of Ar$95.122bn (US$1.586bn), equivalent to 0.44% of GDP. This is broadly in line with the financial markets’ predictions, and down from a 2018 fiscal deficit which stood at 2.32% of GDP, suggesting that the previous administration led
Mauricio Macri (2015-2019) was successful in its (unpopular) fiscal adjustment programme. Argentina’s 2019 net fiscal deficit, including payments of interest on debt, totals Ar$819.407bn, or 3.76% of GDP. The economy ministry, now headed by
Martín Guzmán in the Peronist government of President
Alberto Fernández, notes that if it weren’t for so-called
“extraordinary income” (which includes, amongst other things, profits from the sale of some fixed assets of state-owned companies), the country would have recorded a primary deficit of 0.96% of GDP and a net fiscal deficit of 4.28% of GDP.
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