Macro Analysis /

Argentina: Fiscal deficit grows to 8.5% of GDP for 2020

    21 January 2021
    • Fiscal deficit closes year lower than govt projected but in line with market consensus
    • Federal revenues fall 0.3pp to 17.9% of GDP in 2020 as tax hikes and new duties compensate pandemic impact
    • Spending soars 5.7pps to 24.3% of GDP, pushed up by pandemic programs and subsidies