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The deterioration of "nearly four-tenths of GDP relative to April" is due "almost entirely to the accumulation of Ancap's crude stocks."
The mobile year-end budget closed at May reached 4% of the gross domestic product (GDP), a figure that represented a deterioration of three tenths from the April record, while It was 3.7%, reported the Ministry of Economy and Finance (MEF).
According to a report released by the ministry, the deterioration of "nearly four-tenths of GDP from April" is due "almost entirely to the accumulation of Ancap crude oil stocks."
Non-financial public sector revenues amounted to 29.7 percent of GDP, "almost two-tenths less than what was observed the previous month," says MEF, which blames a drop in central government revenues of nearly 0.1% of GDP, as well as a "deterioration of the result" primary current of public enterprises of similar magnitude. "[19659003] Meanwhile, the Social Security Bank ( BPS) remained stable compared to April
. Primary expenditure in the non-financial public sector amounted to 30.5% of GDP, a figure that increased by 0.3%. % with respect to the previous month's record
"The entire increase is explained by the increase in the above-mentioned oil and derivatives inventory."
In this way, the budget deficit continues outside the government 's objectives, which plans to keep it at 3.3% of GDP by the end of 2018.
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