Argentina says tax haul up 43.9% y/y in October

The ministry said in a statement said the comparative windfall "contributes to the financial normalization of the national public sector." The substantial tax haul comes amid a long-running recession made worse by the ongoing coronavirus pandemic. Argentina remains in the throes of the pandemic, reporting over 1 million cases since the outbreak began there in March and more than 30,000 deaths from the disease.

Argentina said on Monday its total monthly tax haul had jumped 43.9% in October versus the same period the previous year, an unexpected boon amid an otherwise debilitating economic recession.

The country´s economy ministry said the top South American grains producer had collected $8.197 billion in October, attributing the sharp spike to the gradual recovery of economic activity and stabilizing prices. The ministry said in a statement said the comparative windfall "contributes to the financial normalization of the national public sector."

The substantial tax haul comes amid a long-running recession made worse by the ongoing coronavirus pandemic. Analysts predict inflation of around 40% for 2020. Argentina remains in the throes of the pandemic, reporting over 1 million cases since the outbreak began there in March and more than 30,000 deaths from the disease.