The Government withdrew during the year 2012, 50 billion pesos of the ANSeS and Central Bank

January 8, 2013
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The national Government took some 50,000 million pesos of the ANSeS and the Central Bank during the year 2012 to finance the expansion of public spending, a private report said.

The fundraising brought 668.000 million pesos, of which 76 per cent was administered directly by the nation and 24 percent was distributed between the provinces automatically.

 According to the report, although it’s an unprecedented level of collection and centralization at the national level, the persistent expansion of public spending led to the budget law to be amended at the end of December 2012 by two decrees of necessity and urgency.

Its aim was to increase the expenditures of the national State in 57,000 million pesos taking as sources of financing own tax collection, and the portfolios of the Central Bank and the ANSeS, according to a report by the Argentine Institute for Social Development (IDESA).

 About 7,000 million pesos were covered with the increase in the tax revenue – above what was budgeted – and other resources originally not covered by the law on budget 2012.

Another 22,000 pesos million corresponded to the ANSeS and the remaining funds 28,000 million were taken from the Central Bank, IDESA said.