21.11.201719:13:00UTC+00ARGENTINA: Primary Deficit Falls 47% In October From A Year Before

The Argentinean primary deficit decreased by 47% in October on an annual basis, to a 32.5 billion pesos, said the country's Ministry of Finance.

According to the government, the decreasing deficit is the result of a significant slowdown in the growth of expenses, that increased 6% compared to the same month last year, and a 32% growth of revenues year-on-year.

Year-to-date, revenues have grown 31% year-on-year, while primary expenses increased 24% on an annual comparison.

The accumulated deficit in the first ten months of the year is equivalent to 2.5% of the Gross Domestic Product (GDP), 0.9% percentage point below the 3.4% recorded in the January-October 2016 period.