* November's primary deficit totals 723.3 million pesos
* Fiscal deficit jumps to 2.27 billion pesos
* Primary spending surges 38.5 pct to 63.34 billion pesos
BUENOS AIRES, Jan 9 Argentina posted a primary
budget deficit of 723.3 million pesos ($146.5 million) in
November as spending growth outpaced rising revenue,
government data showed on Wednesday.
Latin America's No. 3 economy posted a primary budget
surplus of 425.9 million pesos in the same month a year earlier
and November's result is the first deficit since June.
The primary budget balance shows government savings before
debts are paid. It was an important indicator of fiscal health
in Argentina, which has been virtually shut out of global credit
markets since a 2002 default.
After debt repayments, November's data showed a fiscal
deficit of 2.27 billion pesos. That compares with a deficit of
just 50.4 million pesos in the same month a year earlier.
Primary spending rose a brisk 38.5 percent to 63.34 billion
pesos, fueled largely by layouts to cover pension benefits and
outpacing growth in tax revenue.
Tax income rose 28 percent in November year-on-year.
November's figure brings the primary budget surplus in the
first 11 months of 2012 to 6.67 billion pesos, the Economy