Argentina's inflation rate will likely end the year above 21%, Treasury Minister Nicolas Dujovne told reporters on Thursday. The government previously estimated that consumer prices in Latin America's third-biggest economy would rise 17% in 2017.
Argentina plans to cut corporate income taxes to 25% by 2021 for companies that reinvest profits, it said on Tuesday, part of a wide-reaching tax reform bill intended to accelerate investment in Latin America's no.3 economy. The bill, which would slash taxes for companies willing to reinvest in Argentina from 35%, will be sent to Congress in the coming days, Treasury Minister Nicolas Dujovne said.
Chancellor of the Exchequer Philip Hammond is scheduled to arrive in Buenos Aires Tuesday evening following a two day business promotion visit to Brazil. It will be the first time a leading UK cabinet minister sets foot in Argentina in sixteen years; the last was when ex Prime Minister Tony Blair met ex president Fernando De la Rua in the Iguazu falls in 2001.
Argentina posted a primary fiscal deficit of 144 billion pesos (US$8.4 billion), or 1.5% of GDP in the first half of 2017, Treasury Minister Nicolas Dujovne said on Wednesday, beating the government target for a gap of 2% of GDP. The primary fiscal deficit was 103 billion pesos in the second quarter, compared with 41 billion pesos in the first quarter.
Argentine Treasury Minister Nicolas Dujovne said he was confident the economy would grow more than 3% this year, while another treasury official said the economy had rebounded in March after declining the prior two months.
Argentine Finance minister Nicolas Dujovne said on Tuesday that the economy's recovery at the start of the year was based on investment and not in consumption. It is a heterogeneous recovery, with performance in different sectors: government social expenditure was up 70% but manufacturing was down 80%, mainly because of the Brazilian recession, and domestic contraction, admitted the minister.
Finance minister Nicolas Dujovne will be heading this week the largest Argentine business delegation to visit the UK in twenty years, jointly organized by the Argentine-British Chamber of Commerce with support from the Argentine foreign ministry and the embassy in London.
The Economist’s Argentina Summit taking place in Buenos Aires on Wednesday, 8th March, will bring together more than 200 government and business leaders to evaluate Argentina's progress over the last year and to discuss the country's social, political and economic future in the year ahead.
One of President Trump's sons made a business trip to Uruguay in early January that cost taxpayers US$97,830 to put Secret Service and embassy staffers in hotel rooms, according to a new report. Eric Trump visited Uruguay on behalf of the Trump Organization before his father’s Jan. 20 inauguration, The Washington Post reported.
In his first public comments since his appointment, Argentine Economy minister Nicolas Dujovne told a press conference that his main objective would be to continue with center-right President Mauricio Macri's economic policies.