Fiscal Balance in Argentina

Argentina Fiscal Balance | Economic News & Forecasts

Argentina - Fiscal Balance

President Mauricio Macri’s plea to the IMF on 29 August triggered a sharp selloff in the peso, precipitating the worst chapter thus far of this year’s still-unfolding economic crisis. Macri appealed to the IMF to accelerate the disbursements of its USD 50 billion stand-by arrangement (SBA) agreed to in June, a move that sent investors fleeing as the depths of the government’s fiscal woes grew more apparent. In exchange for bringing forward the disbursements, the government offered new fiscal reforms intended to speed up consolidation. Ahead of the IMF’s announcement on a revised SBA, the pain facing the economy continues to mount. Confidence is in the doldrums and tighter monetary conditions are bound to bruise spending and investment this quarter. Exacerbating matters, economic activity contracted in the second quarter as drought wreaked havoc on the agricultural sector, and a brewing corruption scandal in the construction sector is poised to weigh on activity through the remainder of the year.

Argentina - Fiscal Balance Data

2013  2014  2015  2016  2017  
Fiscal Balance (% of GDP)-1.9  -2.4  -3.9  -5.9  -6.0  

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Argentina Facts

Bond Yield6.690.15 %Dec 17
Exchange Rate39.860.45 %Sep 14
Stock Market30,1772.26 %Sep 14

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Economic News

  • Argentina: Central Bank maintains tight monetary conditions despite plunging economic activity

    September 12, 2018

    At its latest meeting held on 11 September, the Central Bank of Argentina (Banco Central de la República Argentina, BCRA) decided to leave the seven-day liquidity bills rate (seven-day LELIQ rate) unchanged at an all-time high of 60.00%.

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  • Argentina:

    September 4, 2018

    Industrial production contracted 5.7% over the same month of last year in July, according to data released by the National Statistical Institute (INDEC) on 4 September.

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  • Argentina: Consumer sentiment remains in the doldrums in August

    August 24, 2018

    The Universidad Torcuato di Tella (UTDT) consumer confidence index was stable in August from July at 36.3 points, and just a notch higher than June’s four-year low.

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  • Argentina: Economic activity plummets further in June

    August 23, 2018

    The monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Económica) contracted 6.7% in annual terms in June, deteriorating from the 5.2% contraction recorded in May (previously reported: -5.8% year-on-year) and marking the worst performance in nine years. June’s contraction came on the back of significant annual declines in agricultural and industrial output, as well as severely restricted trade activity.

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  • Argentina: Trade deficit widens in July

    August 22, 2018

    Exports rebounded in July, expanding 1.7% in year-on-year terms following June’s revised 1.0% contraction (previously reported: -1.4% year-on-year).

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