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FinanceArgentina: Finance
Currency and
Exchange Rates: Monetary Units: - 100 centavos = 1 nuevo peso argentino (new Argentine peso).
Sterling, Dollar and Euro Equivalents (29 May 2009): - £1 sterling = 6.023 new pesos;
- US $1 = 3.729 new pesos;
- €1 = 5.257 new pesos;
- 100 new pesos = £16.60 = $26.82 = €19.02.
Average Exchange
Rate (new pesos per US $): - 2006 3.054
- 2007 3.096
- 2008 3.144
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. Central Government Budget (million new pesos) |
|
|
|
| Revenue |
2007* |
2008† |
2009† |
| Current revenue |
143,276 | .8 |
168,322 | .1 |
182,213 | .4 |
| Tax revenue |
99,898 | .0 |
118,751 | .8 |
128,012 | .9 |
| Direct |
19,091 | .0 |
21,942 | .2 |
24,630 | .7 |
| Indirect |
80,807 | .0 |
96,809 | .7 |
103,382 | .1 |
| Social security contributions |
37,328 | .4 |
40,237 | .4 |
44,554 | .7 |
| Sale of public goods and services |
777 | .4 |
909 | .3 |
939 | .2 |
| Property income |
1,988 | .7 |
3,380 | .1 |
3,567 | .9 |
| Other non-tax revenue |
2,769 | .6 |
3,501 | .2 |
3,732 | .0 |
| Current transfers |
514 | .7 |
1,542 | .3 |
1,406 | .7 |
| Capital revenue |
1,169 | .8 |
1,140 | .7 |
1,027 | .3 |
| Total |
144,446 | .6 |
169,462 | .8 |
183,240 | .7 |
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|
| Expenditure |
2007* |
2008† |
2009† |
| General administration |
6,702 | .6 |
7,811 | .4 |
7,810 | .7 |
| Judicial |
2,224 | .3 |
2,559 | .5 |
2,631 | .1 |
| Foreign relations |
1,168 | .2 |
1,689 | .6 |
1,596 | .2 |
| Interior |
1,333 | .1 |
1,249 | .0 |
1,395 | .3 |
| Defence and security |
8,625 | .2 |
9,899 | .7 |
9,748 | .4 |
| Defence |
4,125 | .6 |
4,401 | .7 |
4,362 | .9 |
| Internal security |
3,460 | .8 |
4,166 | .3 |
4,122 | .4 |
| Social services |
84,280 | .2 |
98,720 | .5 |
108,274 | .6 |
| Health |
4,894 | .8 |
6,194 | .9 |
6,363 | .2 |
| Social security |
57,198 | .7 |
66,584 | .8 |
73,920 | .5 |
| Education and culture |
9,612 | .0 |
11,294 | .7 |
12,952 | .8 |
| Economy |
22,918 | .1 |
25,845 | .8 |
27,598 | .0 |
| Energy, fuel and mining |
9,392 | .5 |
10,952 | .6 |
11,877 | .2 |
| Transport |
9,965 | .6 |
10,638 | .1 |
11,401 | .8 |
| Debt-servicing |
16,792 | .3 |
19,209 | .1 |
22,599 | .9 |
| Total |
139,318 | .4 |
161,486 | .5 |
176,031 | .6 |
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* Estimates † Budget forecasts Note: Budget figures
refer to the consolidated accounts of the central Government only.Source: Oficina Nacional de
Presupuesto, Secretaría de Hacienda, Ministerio de Economía,
Buenos Aires International Reserves (US $ million at 31 December) |
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| |
2006 |
2007 |
2008 |
| Gold (national valuation) |
1,123 | |
1,434 | |
1,514 | |
| IMF special drawing rights |
482 | |
507 | |
494 | |
| Foreign exchange |
30,421 | |
44,175 | |
44,360 | |
| Total |
32,026 | |
46,116 | |
46,368 | |
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Source: IMF, International
Financial Statistics Money Supply (million
new pesos at 31 December) |
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| |
2006 |
2007 |
2008 |
| Currency outside banks |
53,812 | |
67,067 | |
74,099 | |
| Demand deposits at commercial banks |
24,569 | |
39,148 | |
37,540 | |
| Total money |
78,381 | |
106,215 | |
111,640 | |
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Source: IMF, International
Financial Statistics Cost of Living (Consumer Price Index for Buenos Aires metropolitan area; annual averages;
base: April 2008 = 100) |
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| |
2006 |
2007 |
2008 |
| Food and beverages |
84 | .3 |
93 | .7 |
100 | .1 |
| Housing and basic services |
83 | .8 |
91 | .7 |
101 | .0 |
| Clothing |
95 | .0 |
102 | .1 |
103 | .2 |
| Transport and communications |
85 | .4 |
91 | .3 |
101 | .0 |
| All items (incl. others) |
85 | .5 |
93 | .1 |
101 | .1 |
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National Accounts (million new pesos at current prices, preliminary) Expenditure on the Gross Domestic Product |
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2006 |
2007 |
2008 |
| Government final consumption expenditure |
81,248 | |
105,013 | |
139,336 | |
| Private final consumption expenditure |
386,305 | |
475,876 | |
598,839 | |
| Increase in stocks* |
–2,124 | |
94 | |
18,582 | |
| Gross fixed capital formation |
152,838 | |
196,622 | |
240,621 | |
| Total domestic expenditure |
618,267 | |
777,605 | |
997,378 | |
| Exports of goods and services |
162,035 | |
200,080 | |
251,367 | |
| Less Imports of goods and services |
125,863 | |
165,230 | |
210,557 | |
| Gross domestic product (GDP) in market prices |
654,439 | |
812,456 | |
1,038,188 | |
| GDP at constant 1993 prices |
330,565 | |
359,170 | |
384,201 | |
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* Including statistical discrepancy Gross Domestic Product by Economic Activity |
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2006 |
2007 |
2008 |
| Agriculture, forestry and hunting |
48,759 | |
68,253 | |
91,160 | |
| Fishing |
2,001 | |
1,849 | |
2,365 | |
| Mining and quarrying |
36,235 | |
35,557 | |
35,699 | |
| Manufacturing |
134,709 | |
158,821 | |
204,575 | |
| Electricity, gas and water supply |
9,712 | |
10,991 | |
12,362 | |
| Construction |
34,897 | |
46,359 | |
56,434 | |
| Wholesale and retail trade |
69,127 | |
86,318 | |
113,228 | |
| Hotels and restaurants |
16,344 | |
19,969 | |
25,069 | |
| Transport, storage and communications |
53,565 | |
64,106 | |
80,565 | |
| Financial intermediation |
28,048 | |
36,366 | |
48,525 | |
| Real estate, renting and business activities |
65,962 | |
81,907 | |
104,434 | |
| Public administration and defence* |
33,629 | |
43,698 | |
58,387 | |
| Education, health and social work |
46,943 | |
61,344 | |
81,320 | |
| Other community, social and personal
service activities† |
24,862 | |
30,630 | |
38,352 | |
| Sub-total |
604,793 | |
746,168 | |
952,476 | |
| Value-added tax |
49,044 | |
65,124 | |
84,423 | |
| Import duties |
5,139 | |
7,015 | |
8,988 | |
| Less Financial intermediation
services indirectly measured |
4,536 | |
5,851 | |
7,699 | |
| GDP in market prices |
654,439 | |
812,456 | |
1,038,188 | |
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* Including extra-territorial organizations
and bodies † Including
private households with employed persons Balance of Payments (US $ million) |
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| |
2007 |
2008 |
| Exports of goods f.o.b. |
55,780 | |
70,589 | |
| Imports of goods f.o.b. |
–42,525 | |
–54,547 | |
| Trade balance |
13,255 | |
16,042 | |
| Exports of services |
10,341 | |
12,019 | |
| Imports of services |
–10,841 | |
–12,945 | |
| Balance on goods and services |
12,755 | |
15,116 | |
| Other income received (net) |
–5,927 | |
–7,489 | |
| Balance on goods, services and income |
6,828 | |
7,627 | |
| Current transfers (net) |
275 | |
–38 | |
| Current balance |
7,103 | |
7,588 | |
| Capital account (net) |
116 | |
135 | |
| Net investment in banking sector |
1,567 | |
2,220 | |
| Net investment in public sector |
2,423 | |
–253 | |
| Net investment in private sector |
1,230 | |
–11,293 | |
| Net errors and omissions |
659 | |
1,612 | |
| Overall balance |
13,098 | |
9 | |
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Citation:
Finance (Argentina),
in Europa World online. London, Routledge.
Retrieved 11 March 2010 from http://www.europaworld.com/pub/entry/ar.ss.39
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