It is that, the first president is convinced that despite the pandemic and the war, his management at the head of the Casa Rosada deserves to have a positive consideration. And, regarding the pessimistic look that the different pollsters reflect, in the opinion of the presidential environment, it is the product of some media whose objective is to show everything negative.
For now, The one who will add some positive news to his management is Minister Sergio Massa. It is that, despite the forecast of different consultancies regarding the fact that last month’s inflation would have been higher than 6%, in the Ministry of Economy there is confidence that the November index, which will be known this Thursday, It will start with a 5.
But what most encourages the Palacio de Hacienda, as indicated in the portfolio, is the downward trend that prices have been showing. They anticipate that this progressive reduction in the inflationary rhythm It is accompanied by an order both in terms of public debt and fiscal.
In the first week of December The rise in food was 1.1% compared to the previous week, accumulating inflation of 3.2% average in the last four weeks and 3.1% end to end in the same period, according to the consultancy LCG. This behavior is explained by a 0.3% drop in vegetables during the first week of the current month, and smaller increases in important items such as oils, which rose 0.2%, and meats, 0.4%.
Meanwhile, for Marina dal Pogettothe survey of the second week of December of the item food consumed at home had an increase of 1.2%, which leads the consultant to estimate that the total rise in the month could be 4.4%. The Eco Go data would match with official estimates projecting general inflation for December of 5%.
“What I see is that meat was going down and that contained food and helped to slow down inflation a bit, but the rest continues to rise at a good pace.” pointed out the economist Camilo Tiscornia to Ámbito. In this regard, he warned that “It seems difficult for inflation in December to drop below 6%, even though November may be below.”
As background, during the month of November the Consumer Price Index of the City of Buenos Aires (IPCBA) registered an increase of less than 6%, it was 5.8%, and accumulates in the first eleven months of the year a rise of 82.9%.
accounts
Along with the slowdown in inflation, the Palacio de Hacienda also assures that there will be a progressive ordering of public finances. In this sense, they anticipate that they will obtain an important offer of funds in the debt tender that will be held this Wednesday.
The issue is being followed with particular attention by the market, after a November that ended with the worst negative net financing since April.
In the next tender, more than $400,000 million expire and the Government must not only achieve a 100% roll-over, but also need to obtain extra net financing to avoid resorting to alternative sources that pour more pesos into the economy in a month with a high deficit , according to the consultant Ecolatina.
In the economic direction they are also confident that they will meet the annual deficit target promised to the IMF. “We save bullets for December, stepping on expenses and squeezing boxes” they maintain in the Treasury area. And they clarify that the result will be achieved without accruing expenses that are not paid later, one of the issues that the Fund questioned former minister Martín Guzmán the most at the time.
Source: Ambito
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