UPDATE 1-Argentina April tax revenue rises 31 pct yr/yr

BUENOS AIRES, April 3 (BestGrowthStock) – Argentina’s tax revenue
rose 31 percent in April to a record 30.13 billion pesos ($7.7
billion), the government tax agency said on Monday.

The figure matched that announced earlier in the day by
President Cristina Fernandez and was above market
expectations.

A Reuters survey of seven local analysts gave a median
outlook for revenue of 28.77 billion pesos.

Argentina’s economy is recovering from a slump last year
and rising grains export taxes and value-added taxes are both
causing revenue income to accelerate.

Also, the country’s high inflation — private estimates say
it is running at 20 percent to 30 percent, well above official
figures — translates into more tax revenue.

“However … unless fiscal spending continues growing at
elevated rates above 30 percent, strong tax revenues will have
a limited effect on primary fiscal standing,” Bertrand Delgado,
senior economist at RGE in New York, wrote in a report over the
weekend.

The primary fiscal surplus indicates the government’s
ability to meet debt obligations.
Investment Basics

($1=3.9 Argentine pesos)
(Reporting by Fiona Ortiz; Editing by Bernard Orr)
([email protected]; +5411-4318-0655; Reuters
Messaging: [email protected]))

UPDATE 1-Argentina April tax revenue rises 31 pct yr/yr