Argentina’s tax revenue fell sharply in April during the nationwide lockdown, outlining how severely measures to contain the coronovirus pandemic hit the economy.
Revenue dropped 10% in April from a month earlier to 399 billion pesos ($5.95 billion at the official exchange rate), the third straight monthly drop. From a year ago, tax revenue rose 12%, lagging the 48% inflation rate, according to government figures published Tuesday.
It’s the first major indicator illustrating the severity of economic damage last month. Argentina began a nationwide lockdown on March 20, ...
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