Water, power, and transport subsidies are down 15% for the January-May period, compared to the same period last year. While the government will not fulfill the International Monetary Fund’s (IMF) fiscal goals due to the effects of the historic drought, it does aspire to over comply with the annual spending quota on power subsidies. However, payments to [power distribution company] Cammesa were issued for AR$ 440.3 billion, a 49% reduction in real terms. Tariff segmentation was still not implemented in the same period of 2022, when power prices reached record values due to the war in Ukraine. Most transport subsidies go to its infrastructure system fund, which finances subsidies on passenger transport: AR$112.7 billion, a 19% increase in real terms.

Source: Bueno Aires Herald June 22, 2023 18:43 UTC