PREVIEW-Argentina Jan tax revenue to jump 20 pct, hit record

What: Argentina tax revenue for January

When: Due early next week

Median: Up 19.9 pct year/year to 28.9 bln pesos

By Jorge Otaola

BUENOS AIRES, Jan 29 (BestGrowthStock) – Argentina’s tax revenue is
expected to mark a record in January, jumping some 20 percent
from a year earlier as domestic consumption and exports recover
from the worst of the global slowdown, a Reuters poll showed.

Seven local analysts surveyed by Reuters saw January’s tax
income at a median of 28.9 billion pesos ($7.45 billion),
compared with 24.11 billion pesos in the same month of 2009.

The January figure is likely to beat December’s record of
28.16 billion pesos, also boosted by rising inflation rates.

“There is a key rebound in taxes related to activity levels
in comparison to last January’s lows, when the economy was
affected by the global recession,” said Marina Dal Poggetto, a
Buenos Aires-based analyst with Bein consulting firm.

Latin America’s No. 3 economy is expected to have
contracted some 4 percent in 2009 after years of brisk economic
growth, private economists forecast. Official estimates say it
expanded 0.9 percent last year.

Tax revenue rose only 13.2 percent in 2009 as a result, its
smallest annual increase since 2002 (ARECI10: ).

But domestic consumption and exports have picked up late
last year, with car production nearly doubling in December from
a year ago on soaring sales to Brazil.

“What we’re going to see this year is a very strong
increase in export taxes,” said Fausto Spotorno, an economist
at the Orlando Ferreres consultancy in Buenos Aires.

Estimates from the analysts surveyed by Reuters for the tax
revenue ranged from 28.43 billion pesos to 30.3 billion pesos
with an average of 29.04 billion pesos.

A Central Bank poll with analysts forecast revenues will
reach 28.08 billion pesos (BCRA30: ).

The government is expected to release the data next week.
($1 = 3.88 Argentine pesos)

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(Editing by Theodore d’Afflisio)

PREVIEW-Argentina Jan tax revenue to jump 20 pct, hit record