Sept. 29 (Bloomberg) -- Argentina’s 2012 budget proposal overstates the primary fiscal surplus by almost 3 percentage points of gross domestic product, Barclays said in a report today.
The primary fiscal surplus will reach about 2.1 percentage points of GDP in 2011, the report said. The proposal also underestimates the levels of spending and revenue, Barclays analyst Sebastian Vargas wrote in the report.
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