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For the Government, the fall in economic activity reached its lowest point

For the Government, the fall in economic activity reached its lowest point

“The issue of There are mortgage loans that have effectively been reborn in Argentinathe investment announcements of certain companies, such as automobile companies, we also understand that there is lower inflation,” he expressed among the examples that would mark the beginning of signs of growth in Argentina.

According to the libertarian government official, “the problem we are experiencing in Argentina is that you had a lot of garbage that was hidden under the carpet. When you take out that garbage, because you are not willing to continue putting your hand in whatever comes to your mind and because you begin to be honest with the economy, you are going to spend months where that correction actually sees your activity resented.”

And he added: “This honesty is progressing by leaps and bounds. We have a lot of prices that have already been corrected and released, and that have actually been honest as we intended. In addition to seeing some salaries that are beginning to earn month after month, We understand that that lowest point has already passed“.

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The presidential spokesperson gave details about the drop in economic activity.

Economic activity fell 8.4% in March: the numbers

In March, the Monthly Economic Activity Estimator (EMAE) registered a drop of 8.4% in the interannual comparison and 1.4% compared to February in the seasonally adjusted measurement. If the April 2023 numbers are taken, six sectors of activity that make up the EMAE registered increases in March, among which are Agriculture, livestock, hunting and forestry (+14.1% yoy) and Mining and quarrying (5 .9% ai).

The sectors of Agriculture, livestock, hunting and forestry (+14.1% yoy) represented the greatest positive impact on the interannual variation of the EMAE, followed by Mining and Quarrying (+5.9% yoy).

Nine other sectors of activity, according to the report, had falls in the year-on-year reference, among which stand out Construction (-29.9%) and Manufacturing Industry (-19.6%).

Milei on the adjustment: “We are going through the tip of the V”

In his statements to the international media, the president assured that “the worst part is over.” “Afterwards we’re not just going to have a rebound. When we open the stocks, there we will have an additional push“, held.

As in other interviews, Milei highlights the economic adjustment made in the first months of the Government: “We made the biggest adjustment in the history of humanity, because stopped in the first quarter of the 15 points, we adjusted 13. There is no historical record of something like that. Not only in Argentine history, but in world history, the International Monetary Fund itself recognizes it, apart from doing it in three months.

In addition, he explained that “when the worst was happening, people were on vacation. When he arrived in March, he was shocked. What you are beginning to see is that the economy is rebounding strongly. In other words, the economy is preparing for a strong rebound.”

Source: Ambito

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