Boudou says ‘house in order’ as President Cristina Fernandez prepares for the comeback

Wednesday, January 25th 2012 - 07:49 UTC

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In his last public appearance as Argentine acting President, Vice-President Amado Boudou announced on Tuesday the figures of 2011’s fiscal surplus and gave a strong defence of the Kirchner economic inclusive development model. Read full article

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ChrisR
So Boudou's last 'rally' (wonder what car he drove?) was to tell the 63.4% of the eligible polpulation who DID NOT vote for CFK, how great the economy was OR NOT if you can see through the smoke and mirrors?

Is it me or do the figures NOT add up? This sums it up: “Argentina will continue to use central bank reserves to pay debt this year, within the limits set by the law, Lorenzino said. The government, which, according to the budget, plans to use 5.7 billion dollars of such funds to service debt in 2012, is only allowed to draw on reserves that exceed the monetary base, according to current legislation.”

So what happened to the “10 billion USD trade surplus”? AND, what about this little gem: ”In his last rally as acting President, Boudou announced that the primary surplus reached close to 5 billion pesos (over a billion dollars) in 2011 and that the economy grew 9.2%. However the 5 billion Pesos figure is down from 25.1 billion Pesos in 2010” SO they are 20 billion Pesos in the hole! To me, that IS NOT GROWTH IN REAL TERMS.

They are doing so well that they are having to use 'reserves' to stem the losses and the economy is tanking despite the '9.2%' growth. This growth obviously does NOT take into account the inflation: hence the poor figures.

AND that's without talking about the 61% INCREASE in interest to service the debts, year on year.

Usual lies from the Government.
Jan 25th, 2012 - 10:27 am - Link - Report abuse 0
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