(Corrects first paragraph to show Argentina posted a primary surplus of 671.7 mln pesos in April 2014, not a deficit)
BUENOS AIRES, July 1 (Reuters) - Argentina's primary budget deficit was 17.95 billion pesos ($1.97 billion) in April versus a surplus of 671.7 million pesos in the same month last year, the economy ministry said on Wednesday.
The primary budget balance, which measures government spending relative to income and does not include debt payments, is followed closely by the markets as an indicator of Argentina's ability to meet its financial obligations.
The South American grains exporting country has been locked out of the global bond market since its 2002 sovereign debt default. (Reporting by Jorge Otaola and Maximiliano Rizzi; Editing by Richard Lough)