Argentine economy expected to contract 1% this year and rebound 1.5% in 2019

Tuesday, August 28th 2018 - 09:02 UTC

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Argentina’s economy is expected to contract 1% in 2018, but grow by at least 1.5% next year, Minister Nicolas Dujovne told reporters on Monday. Dujovne said the government was maintaining its fiscal deficit target of 2.7% of GDP for full-year 2018. The government also expects a current account deficit of 3% of GDP in 2019, he said. Read full article

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Enrique Massot
Another story full of bad economic news.

Yet, MP chooses to print a headline that says the Argentine economy is “expected to rebound 1.5% in 2019.”

Come on, MP. It's not “expected.”

As the story says, it's Dujovne, in total denial, who expects the Argentine economy to rebound in 2019. He may be the only one of the 42 million Argentines left to believe it.

I mean, the money advanced by the IMF went on in smoke but wasn't even enough. A government whose only consistent action has been to borrow acts like a bottomless pit, and therefore it's reduced to divert attention towards bribes that would have taken place during the past government.

If there has been a pattern since Mauricio Macri took office in December 2015, it's that of unfulfilled promises. Promises of taming inflation, promises of future growth, promises to lower the fiscal deficit, and so on. Not a single one ever came to reality. Instead, Macri keeps blaming, for its current difficulties, a government that ended 32 months ago.

What makes MP think it's responsible journalism to give entity to wishful chatter from a minister clearly unable to control the economy?

I would suggest MP could qualify the headline statement just by adding: “...minister says.”

Now, that would be an improvement.
Aug 28th, 2018 - 06:07 pm - Link - Report abuse 0
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