December 20, 2017 / 8:44 PM / in 10 months

Argentina says November primary deficit was $1.67 billion

BUENOS AIRES, Dec 20 (Reuters) - Argentina posted a primary fiscal deficit worth 29.66 billion pesos ($1.67 billion) in November, the government said on Wednesday, up from 14 billion pesos the same month last year and down from 32.49 billion pesos last month.

The primary deficit, which excludes debt service, rose year-over-year because government revenue was unusually high in November 2016 due to a tax amnesty program, the Treasury Ministry said in a statement. The cumulative primary fiscal deficit in the first 11 months of 2017 was 2.8 percent of gross domestic product (GDP), within the government’s target for a deficit of 4.2 percent of GDP. ($1 = 17.7500 Argentine pesos) (Reporting by Luc Cohen; Editing by Tom Brown)

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