With an increase in floor prices of 60% by 2022, “The political class likes inflation because it allows them to make announcements,” said Jorge Colina, IDESA economist.
“The sustained growth of spending well above inflation and the weakness of tax revenues lead the Government to resort to creative accounting (…) If the current trends in income and spending do not change, the primary deficit for 2022 is heading towards 3% of GDP, above the goal committed to with the IMF (2.5%)”, reported the consulting firm Delphos Investment. Foreign assets have risen in recent days due to the possibility of a less aggressive rate from the Federal Reserve. “Will it be a short-term rebound? Or is the market betting on a US economy that is beginning to loosen up, thus avoiding a ‘hard landing’ after the economic policies implemented by the Federal Reserve?” asked Priscila Bruno, an analyst at Rava Bursátil.
“The loss of dynamism in the global economy as a result of the restrictions in China and the adjustment in monetary policy in several countries has been favoring concerns about a potential recession,” said the Balanz brokerage.
“The local papers had already fallen to a level that saves them part of the global fall and they have a strong perspective of recovery of values if the country’s situation were redirected”said Roberto Drimer of VatNet Research and pointed out that “however, this situation is still very changeable and should be closely monitored.”
“The situation of the Argentine economy is complex. We can summarize it with the fact that we are once again going through an episode of dollar scarcity. International reserves are fair, we don’t have too many dollars and we have to live with strong controls on the exchange market to manage the dollars that Argentina enters,” Delfina Rossi, director of Banco Ciudad, said in radio statements.
Source: Ambito
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