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The Platita Plan forced Martn Guzmn to open his wallet and spent $ 100,000 million more

The economic measures that the Government took to try to reverse the results of the STEP 2021 elections in the general legislative elections, which were called “Platita Plan“, they had an obvious correlation in a 83% year-on-year increase in public spending and a deficit growth in October.

Prone to fiscal prudence, the Minister of Economy, Martn guzmn, he joined the damage containment program designed by Vice President Cristina Kirchner and had to open the wallet last month.

According to what the Palacio de Hacienda reported, the primary deficit for October totaled $ 209,169 million and the financial imbalance, when computing interest payments on the public debt, rose to $ 277,094 million.

In the accumulated of the first 10 months of 2021, the primary red reaches $ 776,645 million (which is equivalent to 1.8% of the Gross Domestic Product -PBI-) and the fiscal financial deficit is $ 1,337,799 million ($ 1.3 trillion or 3.1% of GDP), after excluding the extraordinary income corresponding to the Special Drawing Rights (SDR) sent by the International Monetary Fund (IMF).

If the SDRs ($ 427,401 million) are computed, the primary deficit falls to 0.8% and the financial deficit to 2.1% of GDP, respectively.

Row by row

The total revenues of the National Public Sector (NPS) increased 69.8% year-on-year (11.6% real, compared to inflation for the period) and amounted to $ 771,447 million, driven by the withholdings -Export Rights- ($ 89,354.1 million, + 128.8% yoy), those associated with Social Security ($ 213,957.4 million, + 66.6% yoy), Debits and Credits ($ 69, .475, 5 million, + 65.7% yoy) and the Value Added Tax (VAT, $ 127,458 million, + 52.3% yoy).

While, Primary spending registered a rise of 83% yoy (20.3% real) in October, amounting to 96.9% (29.5% real) if the expenditures related to combating the economic and social effects of the Covid-19 in 2020 and 2021.

According to what was reported by the portfolio led by Guzmn, the expansion in spending was driven “both by capital investment and by the inclusion and social containment measures deployed by the government in the current year.”

And they highlighted the increases of three programs:

  • Food Policies, due to the increase in the allocation in February -50% – extension of the universe of beneficiaries up to 14 years)
  • Empower Work, due to the increase in beneficiaries and the Minimum Living and Mobile Salary (SMVM)
  • Employment Actions, such as the Productive Recovery Program 2 (REPRO II)

From Yrigoyen 250 they also highlighted the increase in the payment of Family Allowances in October, which includes the granting of the monthly supplement, in addition to increases in the Promotion and Development of National Tourism programs; Progress and Accompany (against gender violence).

Capital spending registered a 264.2% year-on-year increase and economic subsidies jumped 131.8%, due to energy – assistance to Cammesa – and incentives to oil companies due to the Plan Gas program, in addition to transportation support – buses and trains-.

The economic consultant Hernn Hirsch He highlighted: “The fiscal accounts for October reflect the impact of the ‘Plan Platita’, with approximately $ 90,000 million, which caused the Covid extra spending to accelerate in real terms in the year-on-year variation and grow almost 30%”.

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HELEN HERNANDEZ

Helen Hernandez is our best writer. Helen writes about social news and celebrity gossip. She loves watching movies since childhood. Email: Helen@oicanadian.com Phone : +1 281-333-2229

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