Argentina says Nov primary budget deficit 172 mln pesos

miércoles 20 de enero de 2016 16:08 GYT
 

BUENOS AIRES Jan 20 (Reuters) - Argentina had a primary budget deficit of 172 million pesos ($17.7 million) in November of last year and an overall shortfall of 9.2 billion pesos, factoring in debt payments, the government said on Wednesday.

The numbers showed a worsening of public finances versus November 2014, when the government clocked a primary surplus of 388 million pesos ($45.5 million) but an overall deficit of 3.4 billion pesos.

Center-right President Mauricio Macri, inaugurated last month, inherited a stagnant economy with double digit inflation and a primary fiscal deficit of 5.8 percent of GDP in 2015.

Finance Minister Alfonso Prat-Gay said this month he aims to reduce that deficit to 4.8 percent of GDP this year and 3.3 percent in 2017, in part by eliminating public service subsidies for wealthier Argentines. (Reporting by Gabriel Burin)