Fiscal Balance in Argentina
Argentina's fiscal deficit widened significantly from 2013 to 2022, exacerbated by economic mismanagement and high inflation. The government's efforts to finance its deficit led to mounting debt and currency devaluation. Despite various fiscal reform attempts, including subsidies reduction and tax increases, persistent economic challenges hindered effective deficit reduction. The situation was further aggravated by the COVID-19 pandemic, which necessitated increased government spending, further straining public finances and leading to negotiations for international financial support.
The fiscal balance in Argentina averaged -4.6% of GDP in the decade to 2022, slightly above the Latin America regional average of -4.7% of GDP. The fiscal balance in Argentina was -3.8% of GDP in 2022. For more fiscal balance information, visit our dedicated page.
Argentina Fiscal Balance Chart
Note: This chart displays Fiscal Balance (% of GDP) for Argentina from 2014 to 2023.
Source: Macrobond.
Argentina Fiscal Balance Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Fiscal Balance (% of GDP) | -3.8 | -8.4 | -3.6 | -3.8 | -4.4 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Argentine fiscal balance projections for the next ten years from a panel of 34 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable fiscal balance forecast available for Argentine fiscal balance.
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