* WHAT: Argentina tax revenue in May
* WHEN: Tuesday, June 1, at 6 p.m. local time (2100 GMT)
* REUTERS FORECAST: 35.50 billion pesos ($8.95 billion), up 30 percent year/year, according to the median forecast. Eight analysts participated in the survey, with estimates ranging from 34.00 billion to 36.30 billion pesos.
FACTORS TO WATCH: Argentina's tax revenue is seen hitting a new high in peso and dollar terms in May, topping April's record figure, thanks to the annual influx of corporate income taxes. The government tax-take has regained steam since November due to a rebounding economy, booming farm exports and the impact of high inflation.
MARKET IMPACT: Rising tax receipts are positive for Argentina's creditors. But growth in government spending has outpaced growth in revenue, and spending is only seen increasing as an October 2011 presidential vote draws nearer.
The downside is that greater revenue from the sales tax and social security contributions reflect annual inflation that tops 20 percent, according to private economists.
LINKS:
Argentina's bureau of statistics website: http://www.indec.gov.ar/
For historical Argentine statistical data in Spanish, please see pages through
To see a calendar of Argentine economic indicators please click on or type in ECONAR on a quote page and press enter
For separate pages detailing Argentine analysts' economic forecasts, click on:
($1=3.965 Argentine pesos)
(Reporting by Jorge Otaola and Hilary Burke; Editing by Leslie Adler) Keywords: ARGENTINA ECONOMY/TAX (hilary.burke@thomsonreuters.com; +54 11 4318 0663; Reuters Messaging: hilary.burke.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* WHEN: Tuesday, June 1, at 6 p.m. local time (2100 GMT)
* REUTERS FORECAST: 35.50 billion pesos ($8.95 billion), up 30 percent year/year, according to the median forecast. Eight analysts participated in the survey, with estimates ranging from 34.00 billion to 36.30 billion pesos.
FACTORS TO WATCH: Argentina's tax revenue is seen hitting a new high in peso and dollar terms in May, topping April's record figure, thanks to the annual influx of corporate income taxes. The government tax-take has regained steam since November due to a rebounding economy, booming farm exports and the impact of high inflation.
MARKET IMPACT: Rising tax receipts are positive for Argentina's creditors. But growth in government spending has outpaced growth in revenue, and spending is only seen increasing as an October 2011 presidential vote draws nearer.
The downside is that greater revenue from the sales tax and social security contributions reflect annual inflation that tops 20 percent, according to private economists.
LINKS:
Argentina's bureau of statistics website: http://www.indec.gov.ar/
For historical Argentine statistical data in Spanish, please see pages through
To see a calendar of Argentine economic indicators please click on or type in ECONAR on a quote page and press enter
For separate pages detailing Argentine analysts' economic forecasts, click on:
($1=3.965 Argentine pesos)
(Reporting by Jorge Otaola and Hilary Burke; Editing by Leslie Adler) Keywords: ARGENTINA ECONOMY/TAX (hilary.burke@thomsonreuters.com; +54 11 4318 0663; Reuters Messaging: hilary.burke.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.