LatinNews Daily - 17 November 2022

In brief: Argentina’s senate greenlights 2023 budget

*Argentina’s senate has approved the government’s proposed 2023 budget for Ar$29trn (US$186.6bn). This follows its approval by the lower chamber last month. The budget proposal forecasts 2% GDP growth next year and 60% annual inflation. It expects tax take will come in at over Ar$22.5trn and aims to reduce the primary deficit from 2.5% to 1.9% in line with International Monetary Fund (IMF) targets. Last year Argentina’s lower chamber unexpectedly rejected the government’s 2022 budget proposal, citing unrealistic macroeconomic targets, prompting the government to extend the 2021 budget.

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