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Montevideo, November 12th 2018 - 23:20 UTC

Argentina's economy grows 0.8% during first quarter says Central bank

Monday, May 16th 2016 - 07:25 UTC
Full article 16 comments

Argentina's economy grew 0.8% on the first quarter of the year compared to the same period last year, Central Bank Governor Federico Sturzenegger said, declaring that since President Mauricio Macri took office employment has remained “stable.” Read full article

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  • Skip

    Macri gets the blame for everything that is wrong.... will he get the credit when things go right?

    May 16th, 2016 - 08:36 am - Link - Report abuse 0
  • Marti Llazo

    “ ....says Central Bank.”

    Or perhaps creative accounting. I would wait for a more independent and reliable assessment.

    Con esperanza no se come.

    May 16th, 2016 - 01:14 pm - Link - Report abuse 0
  • chronic

    IMF and Moody's are only slightly more credible than your local racetrack tout.

    Yes, more wheat and a bumper crop of it in America as well so when the price is driven down to break even how is this a positive for rg?

    Tanzania fires 10,000 ghost workers costing $2million a month.

    $200 each? Sounds like a bargain to me?

    How insular do you think rg is from brssil's implosion?

    May 16th, 2016 - 02:09 pm - Link - Report abuse 0
  • Maisa

    Lies , the Argentine people are suffering from massive increases in basic necessities . It is an improvised and corrupt government. Embarrassed to say that the president of Argentina evades million dollars to the treasury , robbing Argentine education, health care , well-being for all. With its offshore accounts in Panama and other countries.

    The Argentine government is leaving thousands of people without work, privatized companies necessarily have to be national . Give our country to the highest bidder with false promises to the people , which is already awakening

    May 16th, 2016 - 11:55 pm - Link - Report abuse 0
  • chronic

    Poor ole Macaroni would have to study thieving for a couple of centuries to be one fourth the embezzler that Cretina is.

    May 17th, 2016 - 01:55 am - Link - Report abuse 0
  • Marti Llazo

    @4 oh gawd, another befuddled peronista

    May 17th, 2016 - 03:21 am - Link - Report abuse 0
  • Enrique Massot

    Cristina was criticized for the way the Indec reported...now Macri has uprooted the problem...not Indec at all!

    May 17th, 2016 - 04:07 am - Link - Report abuse 0
  • chronic

    Who hijacked the Reeeeeeeeeeekie name tag?

    Was it sold or traded?

    Did the real Reeeeeeeeeekie suffer an aneurysm?

    The current operator of the Reeeeeeekie franchise is a mere shadow of the previous one.

    This one doesn't even try to be articulate.

    May 17th, 2016 - 11:35 am - Link - Report abuse 0
  • Enrique Massot

    #1 Skip
    ”Will (Macri) get credit when things go right?“
    We are all more than willing to shower Macri--or any government for that matter--with praise if he improves things for those who need it.
    Unfortunately, so far only big landowners, financial institutions, Nicolas Caputo and Macri's family are doing well--what did it say?--extremely well!
    Regular folks are paying more in bills, many state and private sector employees have been put out of work, the police is again repressing demonstrations, and many social work, public health, R&D agencies have been closed down or seriously impaired.

    #5 chronic
    ”Thieving”
    Macri is one of the Argentine entrepreneurs who has gone through most lawsuits, sanctions and fines for shadowy practices...and don't get me started on the Panama Papers revelations for which he is being investigated.
    That is what gives commentators such as chronic so little credibility; they will find fault in people they oppose ideologically, but will quickly look the other way when the person is on their side of the fence.

    May 19th, 2016 - 12:09 am - Link - Report abuse 0
  • Marti Llazo

    Reekie .... oh Reekie

    “ Regular folks are paying more in bills, ” == you really mean, “ huge subsidies - which were little more than political payoffs - are being reduced and some people are actually going to have to pay something just a little closer to the actual cost of the goods and services they receive. ”

    “ many state and private sector employees have been put out of work” -- you mean “many worthless, nonproductive, political-payoff, camporista, and Ñoqui spots are being shut down.”

    “the police is again repressing demonstrations” if you lived in Argentina you would know that “demonstration” is usually “people intent on violence, obstruction of commerce, and a wide range of criminal activities” In which case, a little street-cleaning is in order.

    May 19th, 2016 - 04:08 am - Link - Report abuse 0
  • Zaphod102

    It is like that Monty Python scene from The Life of Brian.

    What did Macri ever do for us?

    Well, he provided the money to repair the university.

    OK, apart from providing the money to repair the university, what did Macri ever do for us?

    Well, he grew the economy by 0.8%.

    OK, apart from providing the money to repair the university and growing the economy by 0.8%, what did Macri ever do for us?

    Well, he helped Siemens provide us with 6,000 jobs.

    OK, apart from providing the money to repair the university, growing the economy by 0.8% and helping Siemens provide us with 6,000 jobs, what did Macri ever do for us?

    Well, he released the dollar clamp.

    OK, apart from providing the money to repair the university, growing the economy by 0.8%, helping Siemens provide us with 6,000 jobs and releasing dollar clamp, what did Macri ever do for us?

    Well, he paid off our international debts.

    OK, apart from providing the money to repair the university, growing the economy by 0.8%, helping Siemens provide us with 6,000 jobs, releasing dollar clamp and paying off our international debts, what did Macri ever do for us?

    ...

    Reekie: He's been in the job for 6 months and has achieved nothing.

    May 19th, 2016 - 05:48 pm - Link - Report abuse 0
  • Marti Llazo

    “The university” ? Of course there are dozens of universities in need of a lot more than repairs.

    Economy grew by 0,8 percent? If the INDEC or BCRA are saying that, we are still laughing. The country is still deep in recession.

    No, Macri did not pay off your international debts. Some were paid and many remain to be paid. At least until the next default.

    Siemens providing 6000 new jobs? We will see when there are actually jobs and not just promises. Remember that Argentina remains the worst place in Latin America to open a business.

    Oh, and Siemens is having second thoughts about adding any employees until the Ley de Conservación de Puestos para Camporistas Ineptos y Ñoquis Ausentes has expired.

    And don't forget that interannual inflation over 40 percent and all those other promises.

    May 19th, 2016 - 07:00 pm - Link - Report abuse 0
  • Enrique Massot

    So funny. Zaphod's piece is as biased and dishonest as any PR press release designed to put thick lipstick on the proverbial pig.

    Zaphod's PR: “Macri provided money to repair the university.”
    The reality: Macri’s plans to boost spending for state universities by 500 million pesos: “Insufficient” said Glenn Postolski, the dean of social sciences at the University of Buenos Aires.
    http://www.buenosairesherald.com/article/213707/uba-macri-budget-boost-is-%E2%80%98insufficient%E2%80%99

    Zaphod's PR: “Macri grew the economy by 0.8 per cent.”
    The reality: Zaphod grabbed one of many forecasts around and made it fact by using the past tense.

    Zaphod's PR: “Macri helped Siemens provide us with 6,000 jobs.”
    The reality?: Again, skillful use of the past tense. ”Siemens has announced that it expects ...yada yada. Reality is, with Macri's opening of imports, it will problematic for ventures like this to ever materialize. (Would be nice though).
    http://www.buenosairesherald.com/article/213707/uba-macri-budget-boost-is-%E2%80%98insufficient%E2%80%99

    Zaphod's PR: “Macri released the dollar clamp.”
    The reality: Abandoning the “cepo” has benefited a narrow circle of Macri's friends only. “High inflation and massive job cuts are a main cause of concern for Argentinians. In April, consumer confidence deteriorated to the lowest level in nearly two years.”
    http://www.buenosairesherald.com/article/213707/uba-macri-budget-boost-is-%E2%80%98insufficient%E2%80%99

    Zaphod's Best-Achieving PR (biggest lie): “Macri paid off our international debts.”
    Come on, Zaphod. You cannot be so delusional or purposely lie just to make a point. As anybody knows, Macri rewarded the vultures blackmailing by paying them cash financed with more debt at high interest rates.

    Conclusion: I never said Macri has achieved nothing. In fact, he has succeeded in dismantling a lot of the good that had been installed by Nestor and Cristina. Many of those who voted Macri are already crying and more will as time goes. So sad.

    May 19th, 2016 - 07:15 pm - Link - Report abuse 0
  • Zaphod102

    “The reality: Macri’s plans to boost spending for state universities by 500 million pesos: “Insufficient” said Glenn Postolski, the dean of social sciences at the University of Buenos Aires.”

    So, if it is “insufficient” after Macri's boost it was “insufficient less 500 million pesos” under Christina. So your reality is indeed a clear improvement?

    “The reality: Zaphod grabbed one of many forecasts around and made it fact by using the past tense.”

    I simply used the current MercoPress topic “Argentina's economy grew 0.8%” which is already past tense, so your reality in this case is a lie.

    “The reality?: ”Siemens has announced that it expects ...yada yada.” Reality is, with Macri's opening of imports, it will problematic for ventures like this to ever materialize.“

    A more likely explanation is the the Siemens announcement is because of Macri's policies. The reality is that it is definitely an encouraging sign.

    ”The reality: Abandoning the “cepo” has benefited a narrow circle of Macri's friends only. ”

    So, it was only Macri's friends who dealt in the blue dollar? The reality is it has opened up the options for business to operate freely.

    ”Zaphod's Best-Achieving PR (biggest lie): “Macri paid off our international debts.” Come on, Zaphod. You cannot be so delusional or purposely lie just to make a point. As anybody knows, Macri rewarded the vultures blackmailing by paying them cash financed with more debt at high interest rates.“

    OK, that wasn't true, what I should have said was ”Macri started the process of paying off our international debts.” which was a hole dug ever deeper for him by the previous administration's refusal to comply with their contractual obligations.

    So, my point still stands. Macri has provided a series of improvements that your reality appears to grudgingly accept for the most part...

    May 23rd, 2016 - 05:27 pm - Link - Report abuse 0
  • Marti Llazo

    Here is all you need to know about “Siemens Argentina.” Just the sort of company you can believe in.

    “Former Chief Financial Officer of Siemens Argentina Pleads Guilty to Role in Multi-Million-Dollar Foreign Bribery Scheme ”

    https://www.fbi.gov/washingtondc/press-releases/2015/former-chief-financial-officer-of-siemens-argentina-pleads-guilty-to-role-in-multi-million-dollar-foreign-bribery-scheme

    https://www.fbi.gov/washingtondc/press-releases/2015/former-chief-financial-officer-of-siemens-argentina-pleads-guilty-to-role-in-multi-million-dollar-foreign-bribery-scheme

    May 23rd, 2016 - 06:46 pm - Link - Report abuse 0
  • Zaphod102

    Not to condone his behaviour, but maybe that went with the territory?

    I'd hope that all of the government officials he bribed over the previous 10 years (so that would be the K-years then) would also be charged.

    I'd assume that, after this, Siemens would take care to do everything correctly.

    May 24th, 2016 - 05:43 pm - Link - Report abuse 0

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