Nevertheless, #Argentina's projected primary deficit this year (4% of GDP) is below @mauriciomacri's target (4.2%), and Itaú says the recently approved pension reform, and continued subsidy cuts, will help @MinHaciendaAr's @NicoDujovne meet the 2018 target (3.2%).
#Argentina's fiscal deficit increased in November compared to a year ago, due in part to an expected deceleration in revenue from the tax amnesty, Itaú reports. But spending was also a factor, with increased outlays on pensions and wages.
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For 2018,
@jpmorgan also sees#Argentina meeting its fiscal target, thanks to@mauriciomacri's "reform blitz," including the pension reform that passed the Lower House Tuesday despite dramatic street protests. (The Senate had passed the bill earlier.)Show this thread -
Notably,
@jpmorgan analysts say the pension victory makes it more likely@mauriciomacri will get his tax reform and budget passed this year. We'll see; the@CasaRosada spent a great deal of political capital on the pension fight.Show this thread
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