The Biggest Adjustment of the Year: the Government Cut 10% of Spending in August to Compensate for the Drop in Revenue

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The Ministry of Economy strengthened pruning in transfers to provinces, public sector salaries and social programs.In the course of the year, the budget fell 4% in the face of a fall in tax revenues.

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During August, Javier Milei’s government deepened its fiscal adjustment policy in the face of a collection that began to show signs of weakening. Accrued primary spending fell 10.3% year-on-year in real terms during the month, according to an estimate by the consultant Analytica prepared on the basis of official information from the Ministry of Economy. [...] The Milei entry again tightens spending: strong cuts to provinces, social programs and …

La Crítica

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Despite the exalted defense of the economic model, the government of Javier Milei, had to cut public spending by 10% in August, as a result of the fall in tax collection. The Ministry of Economy, which leads Luis Caputo, limited the budgetary transfers to the provinces, froze salaries and social plans, and cut the tax ... Read more

rionegro.com.ar

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In order to preserve the fiscal anchor and guarantee the savings goals agreed with the international organizations, the administration of Javier Mielei accelerated during August the scheme of containment of public expenditure. According to private estimates elaborated from the official schedules of the Ministry of Economy, the primary expenditure accrued recorded...