Argentina has the ability to sustain its economic growth amid a slowdown in the global economy, thanks to domestic demand and trade with other South American nations, said Deputy Economy Minister Roberto Feletti.
Washington's decision to vote against loans for Argentina from multilateral development banks “will not affect the country's funding for 2012”, an Argentine government source said on Wednesday.
Argentina's economy grew 9.1% in the second quarter from a year earlier, the national statistics agency, Indec, reported Friday.
Argentina’s Deputy Minister of Economy, Roberto Feletti stated on Thursday that the idea of the government is to “reduce the level of unemployment to 5%” in the coming two years.
Union of South American Nations, Unasur, Foreign Affairs ministers agreed Wednesday in Buenos Aires to increase economic coordination and send monitoring missions to regional elections but could not reach a common position on the Libyan situation.
Argentina's Deputy Economy Minister Roberto Feletti criticized the fiscal austerity measures being implemented in Europe and the US, saying those policies will only hurt the global economy.
Economic activity in Argentina expanded 8.1% in May over a year ago and 8.9% in the first five months of the year according to the country’s Statistics and Census Office, Indec.
Argentina’s capital flight is forecasted to reach 17 billion US dollars in 2011, above the 11.4 billion of last year because of electoral year uncertainties, and in spite of a larger trade surplus.
Argentina’s Deputy Economy Minister Roberto Feletti said the Government “will not accept economic policies to be dictated” by the International Monetary Fund (IMF) and added that country's statistical information is “trustworthy and solid.”