Europa World: The Europa World Year Book online Routledge -- Taylor & Francis group
 
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Finance

Argentina: Finance

Currency and Exchange Rates:
Monetary Units:
  • 100 centavos = 1 nuevo peso argentino (new Argentine peso).
Sterling, Dollar and Euro Equivalents (31 May 2016):
  • £1 sterling = 20.465 new pesos;
  • US $1 = 14.000 new pesos;
  • €1 = 15.616 new pesos;
  • 100 new pesos = £4.89 = $7.14 = €6.40.
Average Exchange Rate (new pesos per US $):
  • 2013     5.459
  • 2014     8.075
  • 2015     9.233
Note: From April 1996 to December 2001 the official exchange rate was fixed at US $1 = 99.95 centavos. In January 2002 the Government abandoned this exchange rate and devalued the peso: initially there was a fixed official exchange rate of US $1 = 1.40 new pesos for trade and financial transactions, while a free market rate was applicable to other transactions. In February, however, a unified `floating' exchange rate system, with the rate to be determined by market conditions, was introduced.

General Government Budget (public sector accounts, million new pesos, forecasts)

Revenue  2014  2015  2016 
Current revenue  930,876.4  1,102,095.1  1,261,883.1 
  Tax revenue  534,393.6  636,119.8  733,180.3 
  Social security contributions  286,814.2  341,607.8  393,447.0 
  Sale of public goods and services  3,541.1  4,070.1  4,676.6 
  Property income  86,341.6  94,494.0  101,597.1 
  Current transfers  550.3  4,589.5  4,960.3 
Capital revenue  287.9  356.5  376.1 
Total   931,164.3  1,102,451.6  1,262,259.2 
Expenditure  2014  2015  2016 
Current expenditure  820,881.3  950,060.8  1,087,375.0 
  Consumption expenditure  160,386.1  168,893.4  174,521.6 
  Property income  80,322.5  94,020.5  108,652.2 
  Social security benefits  329,235.7  391,329.2  471,822.8 
  Current transfers  219,306.9  252,524.3  278,260.1 
Capital expenditure  106,703.9  146,139.6  166,361.6 
  Direct investment  53,630.0  70,144.4  81,762.2 
  Capital transfers  47,113.6  69,205.7  77,648.6 
  Financial investment  5,960.3  6,789.5  6,950.8 
Total  927,585.2  1,096,200.4  1,253,736.6 
Note: Budget figures refer to the consolidated accounts of the central and local governments and state-owned companies and entities.
Source: Oficina Nacional de Presupuesto, Secretaría de Hacienda, Ministerio de Economía y Finanzas Públicas, Buenos Aires

International Reserves (US $ million at 31 December)

  2013  2014  2015 
Gold (national valuation)  2,389  2,387  2,107 
IMF special drawing rights  3,162  2,975  2,845 
Foreign exchange  24,981  26,042  20,571 
Total   30,532  31,404  25,523 
Source: IMF, International Financial Statistics

Money Supply (million new pesos at 31 December)

  2013  2014  2015 
Currency outside banks   257,805  315,903  425,718 
Demand deposits at commercial banks  148,673  219,153  259,457 
Total money  406,478  535,056  685,175 
Source: IMF, International Financial Statistics

Cost of Living (Consumer Price Index for Buenos Aires metropolitan area; base: April 2008 = 100)

  2011  2012  2013 
Food and beverages  127.9  141.0  151.7 
Clothing  159.2  172.9  186.0 
All items (incl. others)  130.2  143.3  158.5 

National Accounts (million new pesos at current prices)

Expenditure on the Gross Domestic Product

  2012  2013*  2014* 
Government final consumption expenditure  417,136  530,763  698,824 
Private final consumption expenditure  1,829,260  2,244,908  2,847,938 
Increase in stocks  –3,144  55,047  108,694 
Gross fixed capital formation  473,531  577,994  757,233 
Total domestic expenditure  2,716,783  3,408,712  4,412,689 
Exports of goods and services  428,120  487,913  654,371 
Less Imports of goods and services  379,327  490,361  641,365 
Gross domestic product (GDP) in market prices  2,765,575  3,406,265  4,425,694 
GDP at constant 2004 prices  844,508  868,875  872,816 
* Provisional
 Including statistical discrepancy

Gross Domestic Product by Economic Activity

  2012  2013*  2014* 
Agriculture, forestry and hunting  154,975  206,050  298,709 
Fishing  3,876  8,309  11,788 
Mining and quarrying  100,317  118,003  172,083 
Manufacturing  399,367  460,937  541,264 
Electricity, gas and water supply  74,449  96,638  139,310 
Construction  132,421  160,029  221,536 
Wholesale and retail trade  301,037  349,117  426,146 
Hotels and restaurants  43,388  49,405  59,110 
Transport, storage and communications  151,644  187,464  245,075 
Financial intermediation   81,311  93,641  113,402 
Real estate, renting and business activities  300,594  375,983  476,800 
Public administration and defence  179,076  232,050  310,553 
Education, health and social work  291,909  373,347  482,403 
Other community, social and personal service activities  157,461  191,826  236,669 
Sub-total   2,371,825  2,902,800  3,734,847 
Value-added tax  186,611  230,909  329,586 
Import duties  16,643  23,551  30,058 
Net taxes on products  190,496  249,006  331,203 
GDP in market prices   2,765,575  3,406,265  4,425,694 
* Provisional
 Including extraterritorial organizations and bodies
 Including private households with employed persons

Balance of Payments (US $ million, provisional)

  2013  2014  2015 
Exports of goods f.o.b.  75,963  68,335  56,752 
Imports of goods f.o.b.  –71,293  –62,428  –57,205 
Trade balance  4,670  5,907  –453 
Exports of services  14,733  13,823  13,952 
Imports of services  –18,442  –16,898  –17,942 
Balance on goods and services  962  2,832  –4,443 
Other income received (net)  –12,279  –10,732  –11,079 
Balance on goods, services and income   –11,317  –7,900  –15,522 
Current transfers (net)  –826  –175  –412 
Current balance   –12,143  –8,075  –15,934 
Capital account (net)  33  55  48 
Net investment in banking sector  –1,155  3,842  9,060 
Net investment in public sector  843  5,510  –3,661 
Net investment in private sector  3,771  59  8,857 
Net errors and omissions  –3,174  –196  –3,241 
Overall balance   –11,824  1,195  –4,871 

Citation: Finance (Argentina), in Europa World online. London, Routledge. Retrieved 02 December 2016 from http://www.europaworld.com/pub/entry/ar.ss.39

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