Argentina's 2020 budget primary deficit reached 6,5% of GDP, according to a release from the Economy ministry, while the overall deficit was equivalent to 8,5% of GDP, given the massive support to the government to address the pandemic a recession.
Argentine President Alberto Fernandez on Monday night confirmed that the national government had no plan to bail out Buenos Aires province, which has a payment due later this month on hard-currency provincial debt.
The recently sworn-in Argentine Lower House of Congress expects to sanction the Budget 2020 Bill during a special session next 18 December, giving the government of president-elect Alberto Fernandez sufficient margin to address the current situation and put Argentina back on track with an idea of revenue and commitments.