LatinNews Daily - 21 October 2020

In brief: Argentina’s primary deficit continues to rise

* Argentina’s economy ministry has released new figures which show that the country’s primary deficit totalled Ar$167.2bn (US$2.15bn) in September, up from Ar$89.5bn in August. Meanwhile, interest on public debt rose to Ar$44.8bn, creating a total financial deficit of Ar$212bn. According to an economy ministry press release, this continued rise in the deficit owes to ongoing government spending in response to the coronavirus (Covid-19) pandemic, and the economic impact of measures taken to control the spread of the virus. Although total revenue was up 34.3% year-on-year to total Ar$445.6bn, this was eroded by 36.6% inflation in September, while primary spending totalled Ar$612.8bn, up 71.6% year-on-year.

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