The project raises an expectation of devaluation of 60% and growth of 2%. Not a minor point, since, if we compare the EMAE month by month, seasonally adjusted, we see that the economic activity shows another reality, Already for the third quarter we see a decline in the economy driven by lower imports and exports, that have been stagnant for decades, greater uncertainty affecting investment and private consumption strongly affected by inflation and the loss of purchasing power.
The inconsistencies of the budget model are such that the demand for money with this inflation is not stable, but it seems that they do not see it or do not want to see it. Separate paragraph, deserves an analysis of the interest rate today, that far from being an anchor to curb price inertia and consolidate a process of financial stability, accelerates the inflationary issue and makes credit more expensive for SMEs. Another inconsistency of the economic patches of this government.
Definitely, If the 2023 budget is approved, the Argentine economy will be worse than that of 2022, since far from an economic stabilization program, they are more inconsistent patches, without structural changes, or a path of public spending adjustment. What is evident, once again, is a brutal adjustment in the private sector. Because as always the caste is not touched.
Source: Ambito
