Argentina posts sevenfold rise in primary budget surplus

BUENOS AIRES Wed May 28, 2014 9:07am EDT

Related Topics

BUENOS AIRES May 28 (Reuters) - Argentina's economy ministry said on Wednesday the primary budget surplus jumped more than sevenfold on the year to 3.569 billion pesos ($446 million) in March, as an increase in revenue boosted by high inflation outpaced a rise in spending.

The primary budget balance, which reflects the government's finances before paying debts, rose from a surplus of 438.3 million pesos in March last year.

Argentina has been virtually shut out of global credit markets since a 2001/02 default and uses the central bank's international reserves to repay creditors.

($1 = 8.0025 pesos on March 30) (Reporting by Alejandro Lifschitz; Writing by Sarah Marsh; Editing by James Dalgleish)

FILED UNDER:
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (1)
Errata wrote:
And who is going to believe economic statistics published by Argentina? Nobody with any sense.

May 28, 2014 1:45pm EDT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.