These are the main developments in the field of economy and finance in the Province and Argentina according to the latest report from the Córdoba Stock Exchange.
1- The exchange current account returned to negative ground in January
According to the statistics published by the Central Bank, for the month of January 2923 the exchange current account presented a deficit of 1651 million dollars, the highest red since May 2018.
According to the monetary and exchange entity, despite the import payments fell within the framework of the current restrictions, exports also did so due to the absence of settlements from the “Soybean Dollar” program, therefore the surplus of the the balance of goods contracted sharply. For its part, the service ditch increased its deficit scoring a red of 725 million dollars. Another factor that contributed to the net loss of foreign currency was that purchases by individuals for card payments and for hoarding advanced from December.
2- Without the effect of the “soybean dollar”, the collection fell.
Tax collection at the national level during February 2023 showed a drop in real terms of 9.6% year-on-year. This fall was driven by the decrease in Profits, which decreased by 5.1% in real terms compared to February 2022. The taxes that evolve with the level of activity and consumption showed an uneven evolution: VAT grew by 2.9% in real while that the check tax fell a real 0.3%.
The collapse of export duties, affected by the advancement of exports by the quot dollar and soybean mechanism, weighed significantly on collection; last December. Thus, as happened in January, the restrictions fell again in real terms (-78.1%).
3- Confidence in the Government continues at a minimum
According to the index prepared by the Torcuato Di Tella University, during February the level of Trust in the Government registered a drop of 8.1% compared to the month of January. In year-on-year terms, it presented a negative variation of 21.6%
Likewise, the current confidence level of 40.5% lower than that of the last measurement of the government of Mauricio Macri (December 2019) and 49.6% lower than that of the first full month of the government of Alberto Fernández (January 2020).
The index is at the lowest levels of the management and of the general historical series, to which is added that the variation was negative in its five components (general evaluation, problem-solving capacity, concern for the general interest, honesty of officials, efficiency in spending administration)