MercoPress. South Atlantic News Agency
Argentine economy grows 0.5% in first quarter: fishing and transport compensate fall in agriculture and construction
Argentina's economy grew 0.5% in the first quarter the government said on Wednesday, adding that it saw activity leveling out this year before accelerating in 2017. The year-on-year result, published by the newly revamped Indec statistics agency, followed analysts' forecasts for a 1.3% contraction for the January through March period. Read full article
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Disclaimer & comment rulesFinally a believable growth rate..... and after all Macri's decisions, it is still positive growth.
Jun 30th, 2016 - 06:53 am - Link - Report abuse 0Argentina has a long and dirty history of its governments lying about economic growth and other statistics.
Jun 30th, 2016 - 02:00 pm - Link - Report abuse 0#1 Skip
Jul 01st, 2016 - 04:14 pm - Link - Report abuse 0“...and after all Macri's decisions, it is still positive growth.”
The Kirchnerist governments' policies for economic growth were based on expansion of domestic consumption, giving the lower and middle class opportunities for growth and improvement.
Macri's plans are based on affluence of foreign capital supposed to reactivate the economy, while applying a regressive redistribution of the national income in favour of the wealthiest. This touts the old and perpetually failed “trickle down” idea that promotes, among other things, reduced taxes to the rich while the poor are kept in line with promises of a better future--and, if they don't believe it, then dispensing rubber bullets, tear gas, sticks or real bullets if in need.
Apart from boosting spending for state universities by 500 million pesos, growing the economy by 0.5%, helping Siemens announce the intention to provide us with 6,000 jobs, releasing the dollar clamp, starting 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, stopping INDEC from lying about how bad we were doing, paying the pensioners and reducing inflation, what did Macri ever do for us?
Jul 01st, 2016 - 05:37 pm - Link - Report abuse 0#4 Zaphod
Jul 04th, 2016 - 10:42 pm - Link - Report abuse 0“Apart from...reducing inflation what did Macri do for us?”
Sorry for the Argentines, but the above rosy picture exists only in your little head.
Your “reduced inflation:” 40 per cent annually--higher than during 2015, during CFK's mandate. The problem? Inflation now compounds with recession to produce the much feared stagflation.
Tell your good news to the 150,000 who were laid off in the last six months. (Some sources say 167,000).
New poor: 1.4 million as researched by Catholic University Argentina.
Fiscal deficit: world record, compared only to Venezuela: nearly 10 per cent of GDP.
Construction industry: down 13 per cent in May.
Manufacturing: down 4.3 per cent in May.
In spite of ending “the dollar clamp” that caused a 40 per cent increase, the U.S. denomination threatens to go up: on June 30, the Central Bank had to sell $530 million to avoid a run.
Imports, many of goods produced domestically: up 40 per cent--and we know what happened during Menem's government.
Ohhh! But Siemens may, one day, bring 6,000 jobs.
Oh Zaphodio, keep bringing in the good news! And some painkillers to go with.
@5 “ Inflation now compounds with recession to produce the much feared stagflation.”
Jul 05th, 2016 - 03:57 am - Link - Report abuse 0Reekie, stagflation was for a long time a serious problem for the CFK government, which of course manipulated the INDEC in such a way as to make it appear otherwise.
Remember the news in 2014 about stagflation?
“Argentina y Venezuela lideran el mundial de inflación y recesión: Son los dos únicos países que sufren de estanflación. Lo peor es que se pronostica que seguirán igual en 2015.......”
Likewise, CFK lied about economic growth, inflation, and poverty levels in Argentina. The poverty rate under CFK ended up at about 28 percent and now it's about 30 percent. That's as much the latency of Kirchnerism as it is about Macrismo. Kircherism produced badly overcompensated, low-productivity workers and badly-managed noncompetitive industries, and those chickens are coming home to roost.
Foreign investment coming to Argentina? You'd have to be crazy. The residue of Peronism and the possibility of its further future influences in the country will keep most serious investors away. Argentina remains one of the worst places in the world to open a business, largely because of the effects of the Kirchner governments over the past dozen years - effects which are ongoing.
167,000 despidos in the past few months? That's a good beginning. Another 500,000 or so and you start to make a dent in the dead-wood camporistas and ñoquis. Of course, the continuing impacts of Peronism in the provinces will only worsen the despidos situation.
So the country was screwed by the Kirchners and you don't like the way it's screwed at the moment, which only lends further credence to the perennial observation that Argentina is perpetually screwed so long as it's populated and governed by Argentines.
#5 “Sorry for the Argentines, but the above rosy picture exists only in your little head.“
Jul 05th, 2016 - 10:23 pm - Link - Report abuse 0As we've been through this before and as Marti #6 says, this is not a rosy picture in my head. It is a complete disaster created by 12 years of Kirchner mismanagement. As I've said before, 6 months of Macri was never going to be enough to fill the hole left for him by the Ks but at least 1. He has stopped digging, and 2. He has started the slow process of reversing the damage.
If you had 40% inflation and it is now 36% you are still in a mess but it is an encouraging sign.
”Tell your good news to the 150,000 who were laid off in the last six months.”
How many of these 150,000 economically active and productive members of society? Yes, it's hard to be laid off (BTDT) but if you have the skills and are willing to work you'll get gainful employment eventually, and probably much sooner than the noquis who have added nothing to their work experience.
New poor, Fiscal deficit: How much of this is the truth that was hidden from you before by CFK's fictitious statistics?
“Construction industry: down 13 per cent in May.”
That doesn't surprise me. The construction industry was boosted by the dollar clamp. Investing in property makes sense if it is the only realistic option available to you.
“Oh Zaphodio, keep bringing in the good news! And some painkillers to go with.”
Yes, Argentina is in a mess, but why blame Macri who has made some small improvements over the last 6 months rather than the Ks who created the disaster (and lied about how bad it was) in the first place?
Why so impatient now when you did nothing to protest against the direction things were going over the previous 12 years?
#6 Martillazo
Jul 05th, 2016 - 10:29 pm - Link - Report abuse 0And what are you doing here debating Peronism, Kirchnerism and Macrism when you, in fact, despise all Argentines?
Just say it and be done.
You must be a poor individual when you need to belittle others in order to feel better yourself.
@8 Well, we could ask what you are doing here, Reekie, defending the effects of recurrent corruption and the other indefensible features of argento DNA.
Jul 06th, 2016 - 03:53 am - Link - Report abuse 0Your logic is characteristically argento. Pointing out flaws and repeated, inveterate failings does not mean that one “despises” anyone. I am quite surprised that you didn't follow the usual accusations of xenophobia, racism, and necrophilia. In fact I don't despite the great mass of errant argentos since without them I would have fewer opportunities to shake my head in disbelief at their ability to endlessly repeat errors and develop ever more profound economic disasters, and with the sort of inescapable arrogance and witlessness that have to be seen up close to be fully appreciated. I view this as an inexhaustible source of free entertainment, without which I might have to go down to the University of Magallanes and laugh at the chilotes trying to storm their little Bastille.
“ Just say it and be done,” you ask.
Well then, here it is: you're incompetent, the veritable prototype of arrogance, corrupt, overpaid, unable to balance a chequera, mendacious, kleptocentric, and as the neighbours like to say, una manga de ladrones del primero al último. You need not look very far to find confirmation of that. Mind you, those are the better traits that I see here every day, even when Cristina is away. And you would, too, if you ever visited the Sta Cruz province of Argentistan with your eyes open.
#9 Marti
Jul 06th, 2016 - 05:01 pm - Link - Report abuse 0At least be honest and own up your statement at #6:
“Argentina is perpetually screwed so long as it's populated and governed by Argentines.”
You appear to backtrack from your ridiculous and ignorant statement with a line buried in the garbage you spew at #9:
“Pointing out flaws and repeated, inveterate failings does not mean that one “despises” anyone.”
And then you come back and spread another load of manure:
“...you're incompetent, the veritable prototype of arrogance, corrupt, overpaid, unable to balance a chequera, mendacious, kleptocentric...” etc.
I say, if you do live in Argentina, by all means, don't suffer anymore! The doors are wide open. Take the first flight and run. Argentina won't miss you.
#8 You didn't answer my questions:
Jul 06th, 2016 - 05:04 pm - Link - Report abuse 0Yes, Argentina is in a mess, but why blame Macri who has made some small improvements over the last 6 months rather than the Ks who created the disaster (and lied about how bad it was) in the first place?
Why so impatient now when you did nothing to protest against the direction things were going over the previous 12 years?
I can add another. Is “You must be a poor individual when you need to belittle others in order to feel better yourself.” a circular argument?
So, reekie, when your doctor tells you that you have a problem, that you're morbidly obese and your cholesterol is off the graph, does he say that because it makes him feel good, or because.....you have a problem?
Jul 06th, 2016 - 11:21 pm - Link - Report abuse 0When your ejecutiva de cuentas tells you that you have a problem, that you've overdrafted your account and penalties are to be applied, does she say that to make herself feel better, or to remind you that you have a problem?
When your profe tells you have have a problem, that you have plagiarised most of your essay, does he tell you that to make himself feel better, or because you are an incorrigible asshole?
When the judge tells you that you have a problem, and hands down a 5-year prison sentence, does he do that to make himself feel better, or because you are both irrefutably guilty of numerous major crimes, and - at the risk of being redundant - a habitually corrupt and irredeemable Argentine?
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