The head of the monetary fund, Kristalina Georgieva / web
The Government exceeded the fiscal goal agreed with the International Monetary Fund (IMF) in 2022 based on a significant adjustment in public spending and the boost in income from the soybean dollar.
In this way, the economic team led by Sergio Massa secured the transfer of some US$5.8 billion from the multilateral organization next March for having exceeded these guidelines, although it must be the board of directors led by Kristalina Georgieva that makes this step official.
“Overfulfilled” Massa simply said emphatically when asked if he had also achieved the goals of assistance from the Central Bank to the National Treasury and the accumulation of international reserves in the monetary agency, according to Infobae.
Due to the brutal drought suffered by large areas of the country, the minister knows that having such a comfortable result this year, when he must reach a goal of 1.9% of GDP, will not be as easy as in 2022.
As reported by the Palacio de Hacienda “during 2022, the national public sector registered a primary deficit of 2.4% of GDP”, compared to the guideline of 2.5% agreed with the international organization.
“After reaching a deficit of $502,128 million in December, a primary deficit of $1,955,141 million (2.4% of GDP) was accumulated in the year considering the limit of income from the issuance of public securities.”
“The monthly result is explained by a year-on-year rise in revenue of 92% year-on-year (70.6% accumulated in the year) and a growth of +54.8% year-on-year (year-on-year; 70.5% accumulated in the year) of primary spending compared to December 2021, they explained from the Palacio de Hacienda.
