Ever felt extremely confused or out of the loop about the State’s levels of public spending? Ever wanted to really know, what is happening with all of the country’s money, at least legally? Where is it going? Well, your prayers have been answered because the Federal Fiscal Observatory has now got it all mapped out for you.
With the goal of monitoring all public accounts, the Federal Fiscal Observatory (OFF) has published a new website that is both easily accessible and understandable. The website, which provides access to information that goes as back as 1993, tracks the evolution of the states expenditures and revenues, as well as the public debt levels and fiscal results. All of the information can be viewed, broken down, and specified in minute by minute real time results.
For example, at this moment, the state spends AR$ 134,037 and collects about AR$109,199 per second, meaning that the fiscal deficit increases by AR$ 24,973. Moreover, the public debt also increases by $862 USD as every second goes by.
The website has a multitude of facets that allow viewers to break down the transformation of numbers and results overtime. So what does this mean? Any user now is able to select and view the different types of tax results at the different levels of jurisdictional organizations (municipal, provincial and national). It also tracks the collection of each tax, as well as the details of each expense, the fiscal results in each area and the statistics detailed on public record.
User’s now have the ability to consult a registry that reaches back 24 years with data on the income and items of the central administration, state agencies, social security institutions, the AFIP tax collecting agency, PAMI (the pensioners’ state-run health insurance company), as well as provincial and district administrations. All of this information is presented on the website in different types of graphs or in a table of values.
Additionally, for those who are not too well versed in the language tax results, the site offers an explanatory guide on all things tax system. And to sum it all up, the website gives a constant diagnosis of the country’s fiscal situation.
So what’s the point? Accordingly, the websites initiative seeks to “expose the collection, flow and application of public resources within the framework of the distribution of federal tax income, taking into account the complexity of the relations between jurisdictional and the principle of uniqueness of the taxpayer.”
The Federal Fiscal Observatory (OFF) is under the guide of president Miguel Angel Asencio, who is known as an influential figure on all matters of fiscal federalism for Argentina. Previously, he was the Minister of Treasury and Finance in the province of Santa Fe and he has been a professor at the UNL (Universidad Nacional del Litoral) for 40 years.