UPDATE 1-Argentina Oct tax take up more than expected - News

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UPDATE 1-Argentina Oct tax take up more than expected

By: AFX | 03 Nov 2009 | 07:17 PM ET

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BUENOS AIRES, Nov 3 (Reuters) - Argentina's October tax take rose 8.8 percent from a year earlier to 26.42 billion pesos ($6.94 billion), the Economy Ministry said on Tuesday. The result was above analysts' expectations. The median forecast in a Reuters poll was for tax take of 26.04 billion pesos. October's tax revenue was 0.7 percent higher than September, the government figures also showed. The improvement was in part due to an increase in consumption and the impact of recent government policies aimed at boosting economic activity, said Treasury Secretary Juan Carlos Pezoa. "The tax revenue results were better than expected, thanks to the result of economic policies," Pezoa told a news conference. Argentina's tax revenue growth had slowed in the past couple of months, affected in part by a severe outbreak of the H1N1 virus, that kept many Argentines away from shopping centers and tourist areas. Argentina's tax revenue is tracked by economists as a gauge of the country's ability to repay debt. ($1 = 3.82 Argentine pesos) (Reporting by Roberto Pico; Writing by Vivianne Rodrigues; Editing by Andrew Hay) Keywords: ECONOMY ARGENTINA/TAX (buenosaires.newsroom@thomsonreuters.com; +54 11 4318-0663; Reuters Messaging: vivianne.rodrigues.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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