Argentina posts May primary budget surplus of $381.2 mln

BUENOS AIRES, July 16 Wed Jul 16, 2014 8:05am EDT

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BUENOS AIRES, July 16 (Reuters) - Argentina posted a primary budget surplus of 3.08 billion pesos ($381.2 million) for May, the Economy Ministry said on Wednesday, representing an increase of 84 percent over the same month a year earlier.

Argentina, which has just two weeks to cut a debt deal with "holdout" bondholders or risk another debt default, recorded a primary surplus of 671.7 million pesos in April.

The primary budget balance reflects the government's finances before paying debt. ($1 = 8.08 Argentine Pesos as of May 30) (Reporting by Richard Lough Editing by W Simon)

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