Argentina achieves a financial surplus for the fourth consecutive month, paving the way for new measures to contain inflation.

The Minister of Economy, Luis Caputo, announced on social media that Argentina has achieved a financial surplus for the fourth consecutive month, accumulating 0.2% of GDP for the year.

Luis Caputo confirmed that the state reached a financial surplus for the fourth consecutive month. Although the surplus margin has decreased, maintaining balanced figures will allow the government more flexibility to consider new measures, such as freezing tariffs to contain inflation.

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In April, the National Public Sector recorded a financial surplus for the fourth consecutive month of $17.409 billion (US$19.6 million),” Caputo announced on his X account. He added that the accumulated financial surplus for the year represents 0.2% of GDP.

“This result was achieved even without the fiscal chapter of the Budget Law being approved yet, reaffirming the government’s commitment to financial balance in 2024,” reported the Ministry of Economy.

According to official information from the Ministry of Economy, in April, the National Public Sector (SPN) registered a primary surplus of $264.952 billion and a financial surplus of $17.409 billion.

In the first four months of the year, the primary surplus reached 0.7% of GDP, and the financial surplus reached 0.2% of GDP.

During the first four months of the year, primary spending saw a real-term reduction of 32%. The categories with the most significant decreases were: Capital Expenditure (-85% year-on-year), Discretionary Current Transfers to Provinces (-76% year-on-year), and Other Current Expenditure (-43% year-on-year), which includes other expenses such as transfers to cover the deficits of public companies.

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Ignacio Teson
Ignacio Teson
Economist and Financial Analyst
Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.
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