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 (30 December 2016):
  • £1 sterling = 19.560 new pesos;
  • US $1 = 15.900 new pesos;
  • €1 = 16.760 new pesos;
  • 100 new pesos = £5.11 = $6.29 = €5.97.
Average Exchange Rate (new pesos per US $):
  • 2014     8.075
  • 2015     9.233
  • 2016     14.758
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

  2013  2014  2015* 
Government final consumption expenditure  562,725  776,149  1,066,373 
Private final consumption expenditure  2,209,467  2,993,766  3,843,199 
Increase in stocks  34,028  58,746  52,587 
Gross fixed capital formation  545,423  731,719  930,137 
Total domestic expenditure  3,351,643  4,560,380  5,892,296 
Exports of goods and services  489,428  659,838  644,437 
Less Imports of goods and services  492,763  641,132  693,591 
Gross domestic product (GDP) in market prices  3,348,308  4,579,086  5,843,142 
GDP at constant 2004 prices  720,407  702,306  719,579 
* Provisional
 Including statistical discrepancy

Gross Domestic Product by Economic Activity

  2013  2014  2015* 
Agriculture, forestry and hunting  194,919  296,468  281,534 
Fishing  7,752  10,913  13,886 
Mining and quarrying  98,107  170,195  191,255 
Manufacturing  502,616  676,458  843,531 
Electricity, gas and water supply  39,699  52,742  67,298 
Construction  163,369  212,288  272,259 
Wholesale and retail trade  412,297  553,275  701,469 
Hotels and restaurants  67,811  92,601  92,601 
Transport, storage and communications  187,032  252,845  323,434 
Financial intermediation   120,154  159,737  202,826 
Real estate, renting and business activities  320,107  416,131  569,541 
Public administration and defence  240,662  336,546  466,394 
Education, health and social work  332,309  448,914  616,733 
Other community, social and personal service activities  125,006  164,143  222,690 
Sub-total   2,811,839  3,843,257  4,865,451 
Statistical discrepancy      32,832 
GDP at basic prices  2,811,839  3,843,257  4,898,283 
Value-added tax  249,005  331,202  433,076 
Import duties  23,551  30,058  35,512 
Net taxes on products  263,913  374,569  476,270 
GDP in market prices   3,348,308  4,579,086  5,843,142 
* 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 25 June 2017 from http://www.europaworld.com/pub/entry/ar.ss.39

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