In a report by IARAF, the tax policy think tank led by Nadin Arganaraz, the fiscal imbalance between 2016 and 2019 is analyzed. The fiscal deficit accumulated in those four years totalizes US $ 112.3 billion. And to cover this fiscal red, a debt strategy was carried out in voluntary debt markets. As a consequence, the stock of foreign currency debt showed a growth of US $ 92,240 million.
"Looking ahead, debt restructuring demands a primary surplus, but internal social demands tend to sustain the primary deficit. Efforts should focus on finding a substantive solution in a sustainable manner over time, which needs a social consensus basic, "says the Iaraf.
During 2016, the total public expenditure of the National Non-Financial Public Sector was US $ 141,642 million. After making a peak of US $ 158,235 million in 2017, it was reduced to reach US $ 98,260 million in this year 2019. The first conclusion that is observed is that the total expenditure has been reduced by about US $ 43,000 million.
"Looking at the dynamics of spending between 2016 and 2019, it can be concluded that all primary expenditures showed a reduction in the last four years ", It holds. Of course, net interest on public debt showed an increase. And as time goes by, the debt stock gets Enlarge and the interest that the stock accrues are increasingly large.