Argentina says May primary budget balance falls to 1.67 billion

BUENOS AIRES, July 26 Fri Jul 26, 2013 7:36pm EDT

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BUENOS AIRES, July 26 (Reuters) - Argentina posted a primary budget surplus of 1.67 billion pesos ($304 million) in May , down 30.2 percent from the 1.42 billion peso surplus from a year earlier, the government said on Friday.

The primary budget balance shows government finances before debts are paid. Argentina has been virtually shut out of global credit markets since a 2002 default, and it uses the central bank's international reserves to repay private creditors.