It is hard to capture just how differently #Argentina’s national budget is being handled under the new management. But this note about 2017, from Itaú, helps: “Revenues growth outpaced that of primary expenditures for the first time since 2004.”
That said, @jpmorgan also points out #Argentina's rapidly increasing spending on interest payments (excluded in the so-called "primary deficit"). That trend is not going away. Finance Minister Luis Caputo has projected $30 billion in borrowing this year.