Argentina: Pandemic costs sent primary fiscal gap to 6.5% of GDP

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(Buenos Aires Times)

Argentina’s fiscal deficit skyrocketed last year to its highest since at least 1993, as the pandemic forced the government to increase social spending.

The primary deficit, which excludes interest payments, rose to 6.5 percent of gross domestic product in 2020 from 0.4 percent a year earlier, the government said on Wednesday. With debt payments included, the deficit was 8.5 percent of GDP.

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