The week will begin with important topics in thelocal and international level between 16 and 20 September. In Argentina, attention will be focused on the speech that President Javier Milei will give tonight at the Budget presentation and the repercussions. In addition, two INDEC reports on key sectors for the economy are being added. Meanwhile, in international markets, The long-awaited Fed rate cut is expected to come this week.
Budget 2025: what you need to know
In an unprecedented event, President Javier Milei will attend the National Congress this Sunday to present andl Budget 2025, in order to explain what the main parameters of this spending and resources law will be, with a view to achieving zero deficit.
His speech will be broadcast on national television, as established in an official communication sent by the Government to all audiovisual communication services in the country. In this way, the Government will comply with the provision established in the Administration Law that must present the budget for next year, which establishes expenses and resources, by September 15.
The Government already announced in July what the main points of the budget for 2025 will be and in this regard established that it will seek to maintain fiscal balance, eliminate intermediation for social assistance and strengthen the areas of Defense and Internal Security.
Tuesday
This Tuesday, the INDEC will publish the Construction Cost Index (CCI) of the month of August 2024. In turn, the Wholesale Price Index System (SIPM) of the same month.
Wednesday
At the international level, the focus on Wednesday will be on the decision of the Federal Reserve in the United States, The Fed is expected to cut its policy rate by 25 basis points to 5.25%. This would mark the start of a cycle of monetary easing that would end the high inflation that the United States has seen over the past three years. “The long-awaited Fed rate cut will finally come” on Wednesday, after its two-day meeting in Washington, predicts Nancy Vanden Houten, an economist at Oxford Economics.
This day will also be known July manufacturing output and August CPI revision for the euro zone.
At the local level, the INDEC presents the progress report on the level of activity for the second quarter of 2024, one of the most important analyses of the week.
Finally, the Central Bank to present Bank Report which corresponds to the month of July.
Thursday
INDEC will report on the Socioeconomic rates and indicators of the labour market from the second quarter of 2024.
At the same time, the report of Argentine Trade Exchange (ICA) which shows the evolution of the Argentine trade balance, which is the relationship between income in dollars from the products that the country exports to the world and those items purchased abroad.
Friday
INDEC will publish the Hotel Occupancy Survey (EOH) of the month of July.
Source: Ambito
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