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'Inflation above 30%', says De Mendiguren

Sunday, December 21st 2014 - 23:44 UTC
Full article 85 comments
Argentine Industrial Union (UIA) José Ignacio de Mendiguren Argentine Industrial Union (UIA) José Ignacio de Mendiguren

Lawmaker and member of the Argentine Industrial Union (UIA) José Ignacio de Mendiguren said that inflation is not 40% as some private indexes say, but he pointed out that it is not around 24% as the government says either. “I think it is over 30%,” he said.

 De Mendiguren spoke about what to expect for next year in an interview with FM Nacional Rock radio. “There will be an economy of scarcity: there will be scarcity of dollars (…) the government will have to make a great effort.”

“I think inflation is over 30%, as provincials INDECs (official statistics institutes) have said. I don’t think it is near 40% but I don’t believe it is 24% either,” De Mendiguren stated.

He explained that a 6-point investment growth is needed in order to sustain a 3-3.5% economic growth in 2015. “The dollars that we need will only be achieved by selling the world more than we buy, or through credit, or investment, and for that we need to solve the holdouts situations,” he said in reference to the country’s ongoing battle with the so called vulture funds.

“We need to serene ourselves, to end with confrontations and to turn back on the engines that allowed us to have the positive 2003-2010 period,” he said. (BAH)

Categories: Economy, Argentina.

Top Comments

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  • chronic

    Closer to fiddy, Joe.

    Dec 22nd, 2014 - 01:14 am 0
  • yankeeboy

    If they're hoping for a repeat of their “recovery” after the default and massive devaluation it is never going to happen.

    There's really something wrong with the way Rgs think. I really don't understand why they can't see what's happening in their macro economics.

    Dec 22nd, 2014 - 01:23 am 0
  • Giorgio C. Tsoukalos

    Simple, we don't believe in your immoral economic system.

    Dec 22nd, 2014 - 04:25 am 0
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