Despite a “black” year in income, the Treasury estimates to close the accounts without deficit | Cuyo’s diary

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In the management uñaquista they keep a last quota of hope in the next weeks of December to close the year in balance. If the numbers that were seen in October and November are maintained, in which there was an increase in the resources that arrive from the Nation due to federal tax sharing, the fiscal year will end without a deficit, that is, the expenses and income will be in tune. This was estimated by the head of the Ministry of Finance, Marisa López, in the program “A todo o nada” on Radio Sarmiento, stating that in the month that passed more funds arrived than expected, so the accounting red that was , and which hovered between 1,500 and 1,000 million pesos, dropped to only 400 million pesos, a more than reasonable figure in this context of a pandemic.

Since March, as a result of the slowdown in economic activity due to strict isolation to curb the coronavirus, López said that “a black picture was presented for provincial resources. Initially, we were talking about a very important reduction in income, which would lead us to take drastic measures on spending. ” In this framework, in the first seven months of the year, the funds that came from the Nation by co-participation were always below the budget. In August there was a small rebound in which the expected resources were exceeded, in September they fell again, while in October and November there was a notable recovery of 8 percent above the estimates in each of those months. Faced with the fall in funds, the Uñaquista administration applied spending containment measures. It even reduced the provincial budget by 10 percent and lowered contributions in non-essential areas. Instead, it strengthened critical tasks in the face of Covid-19, such as health, security and social assistance. In addition, the Minister of Finance recalled that “we had even analyzed using the Anticyclical Reserve Fund and taking on debt (for which authorization was requested from the Nation to take out a loan from Banco San Juan of 3 billion pesos)”. Measures that were not executed and that were available, since we try to “be predictable, because we cannot wait until we lack a resource,” López said.

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Faced with the change that occurred in the last two months in which there were improvements in funds, the minister indicated that “at the end of the year, we can say that the resource was improving according to the projection that we had. Today, our goal is to close balanced. That is, to have no debts to carry over the following year, to start clean in 2021 “.

López remarked that there were at least three key points that helped the province move towards closing the year online. One was the return of the debt of the National Highway, which had been generated in the macrista administration, which “is almost closed,” said the official. In addition, the province received Contributions from the National Treasury (ATN) and, although there was a low collection, 820 million pesos entered the coffers due to the Income moratorium.

The minister also indicated that this month’s resources will be important to define the amount of the year-end bonus for state-owned companies, which will be higher than 6 thousand pesos, will be paid twice and with a first settlement with the salary from December.

  • Raise 25% for budget

The Minister of Finance, Marisa López, confirmed that the 2021 budget contemplates a 25 percent increase in resources, compared to this year. This implies that from 103 billion pesos it will go to 126 billion pesos. Along these lines, López indicated that the increase in resources, taking into account what was collected this year, will be 35 percent. On the other hand, he remarked that although the projection of 25 percent will be below the inflation forecast for next year, estimated at 29 percent, “there is an expectation that it can be offset by the economic growth that we expect the country to have.” . The project has already been sent to Deputies.

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Go up

8 It is the percentage of increase that the federal coparticipation resources that the province received in November had, compared to what it had originally planned.

Bono

42 There are a thousand employees in the central public administration. All of them will receive the bonus, which will be paid in two installments and the amount of which will be defined next week.

  • They analyze issuing bonds for debt

The province does not rule out issuing a bond in 2021 to be able to cancel a debt it has with the Nation for resources provided by the Anses Sustainability Guarantee Fund. The Minister of Finance confirmed the initiative by indicating that they are in negotiation with the Nation, since the cancellation must be made in eight months. On the other hand, if the fiscal accounts accompany, that debt can be paid in cash. The payment is for a debt that should have been canceled this year, but which was postponed by the Nation at the request of the provinces that sought not to lose their financing in a complex year from the accounting point of view. The bond issue will be defined in the coming months.

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