OECD optimistic about global growth; anticipates strong performance of Argentine economy next year

Tuesday, November 29th 2016 - 08:21 UTC

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Fiscal initiatives could boost global economic growth, the Organization for Economic Cooperation and Development (OECD) said Monday in its semi-annual economic forecast. The Paris-based think tank predicted a global gross domestic product (GPD) growth rate of 3.3% in 2017, a figure that remained unchanged from its last outlook released in June. Read full article

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ChrisR
OECD has about as much credibility as the IMF. :o(
Nov 29th, 2016 - 06:06 pm - Link - Report abuse 0
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Enrique Massot
Really?

“Strong performance of Argentine economy next year?”

Let's see what's on other headlines:

Focus Economics:
Consumer sentiment deteriorates in November
Exports contract further in October
Economic activity contracts sharply in September
Buenos Aires inflation jumps in October on higher prices for gas

Buenos Aires Herald:
Economic activity down 3.7% in September
Consumption of domestic goods down 8.8 percent in Q3

Trading Economics:
External Debt in Argentina increased to an all-time high 188 USD Billion in the second quarter of 2016.
In the first quarter of 2016 it was 163 USD Billion.
External Debt in Argentina averaged 137 USD Billion from 1994 until 2016.
(Debt interest payments have now become a relevant part of Argentina's annual budget).

CNBC:
“Macri won office on promises of attracting foreign investment and reducing poverty, but the anticipated influx of investments has been slower than hoped...reducing subsidies for home-heating natural gas, have contributed to inflation, limiting Argentines' purchasing power.

But don't dispair. The same CNBC article ends with a note of optimism: ”Argentina's gross domestic product is expected to shrink 2 percent in full-year 2016, before rebounding to grow 3.2 percent next year, according to private estimates.”

In Macri's Argentina, the only positive numbers happen sometime in a hypothetical future. The present and the actual numbers remain grim.
Nov 29th, 2016 - 07:25 pm - Link - Report abuse 0
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