Argentina: waiting for a strong agriculture recovery to help end recession

Friday, November 23rd 2018 - 09:45 UTC

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The industrial production in Argentina dropped 4.8% in October compared to the same period a year ago, accumulating a seven-month consecutive slide, according to the Center of Economic Studies from Orlando Ferreres. Between January and October manufacturing activity registers a 3.5% contraction relative to the same period in 2017. Read full article

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Enrique Massot
...“even when overall the data seems to indicate that the recessive cycle in Argentina is coming to an end...”

Come on. Who are they trying to kid here?

We've seen nothing yet in terms of economic contraction -- the real recession is yet to start, once the effects of the famous deficit zero-touted 2019 budget begin to be felt.

This is an IMF budget, aimed to protect the Macri government from total collapse and ensure foreign debt payments continue to be made.

This joke of a budget will cut expenses in transportation (minus 46 per cent), education, health, science and technology and capital investments. It also plans for more increases in public services such as energy, un-popularly known as “tarifazos.”

It gets worse. The much-parroted “deficit zero” excludes public debt service payments -- the only item that increases beyond inflation, by 10 per cent.

Sadly, the Macri government will have consisted in nothing but an organized assault on the country, aiming to ensure huge benefits to five per cent of the population while worsening conditions to everybody else.
Nov 23rd, 2018 - 06:09 pm - Link - Report abuse -1
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