More Chainsaw, Milei's Government's Response to the Economic Crisis: 10% Adjusted Public Spending
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The Government of Javier Milei deepened its fiscal adjustment policy during October, with a further reduction in public spending that had its greatest impact on transfers to the provinces. According to a report by the Argentine Institute of Fiscal Analysis (IARAF), the current resources sent to the jurisdictions recorded a real year-on-year fall of [...] Entry Nation deepened the adjustment: the funds to the provinces fell more than 55% in Octob…
In February, the cut had reached 14%. The October fall was the second most pronounced of the year, with the provinces and universities among the main affected by the adjustment of public spending. At the end of the first 10 months of the year, the government stepped on payments from the National Public Administration (APN) for $2.86 billion, in a severe effort to achieve the fiscal goals agreed with the IMF for this year. In that framework, in O…
Public expenditure actually paid fell 9.7% year-on-year in real terms during October, according to an IARAF report. The biggest reductions were concentrated on transfers to provinces and universities, while in the first ten months of the year the outstanding disbursements from the National Public Administration accumulated $2.86 billion.
Primary spending fell 5.5% in October due to cuts in transfers to provinces and subsidies, according to a report by the consultant Analytica. Thus, the accumulation of the first ten months of the year shows a real decrease of 3.3%. Universal Allocation per Son was the only social item that showed a growth in the month. The monthly contraction was explained mainly by the reduction in transfers to the provinces, which recorded a decrease of 56.5% …
According to Analytica's calculations, the biggest cut is concentrated in transfers to the provinces. What happened in the accumulated October.
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