Argentina’s government is seeking about $1bn in additional financing next year in anticipation of higher imports of fuel, natural gas and electricity, according to the 2012 federal budget.

Financing plans suggest Argentina expects to rely more heavily on imported fuel and natural gas as consumer demand surges ahead of production, reported the Wall Street Journal.

The budget seeks permission to issue 10bn peso ($2.38bn) in treasury notes to help guarantee energy imports – a rise from 6bn peso ($1.43bn) in the proposed 2011 budget.

The funds will be used “as a guarantee for the acquisition of liquid and gas fuels [and] the importation of electric power” according to an article in the budget.

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