(Agencia CMA Latam) - Argentina's Ministry of Finance of Argentina reported a 22,090 million pesos (US$ 1,271 million) primary deficit in the National Non-Financial Public Sector (SPNF) in July 2017, a figure almost 10% lower than the deficit posted in the same month of last year.
Revenues grew 28.3% year-on-year in July, 5.4 percentage points more than expenses, which increased 22.9%, said the ministry.
"This result shows that the government is well on track to meet the fiscal result target for the third consecutive quarter as the accumulated deficit in the first seven months of the year was 1.7% of the Gross Domestic Product (GDP),while the cumulative target for the third quarter is 3.2% of GDP," the statement said.
by Agencia CMA Latam
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