The October inflation around 2.7% positions the national government in one of its moments of greatest optimism and proposition in economic matters since the beginning of the administration. That is the framework in which Guillermo Francos He referred to both the price index and the upcoming emergencies of financial administration.
The Chief of Staff highlighted “the impact of Tuesday, when overcame a new inflation barrier, that of 3%we reached 2.7% inflation in October, which generated a very strong movement in all sectors of the economy because they are beginning to become aware that low inflation is real and that the “Government policy of fiscal balance is giving results”.
On the other hand, he also referred to the possibilities that open up for Argentina with the electoral victory of Donald Trump: “I see an opportunity in the personal relationship and the comments that the president-elect of the United States made. It seems to me that this is going to result in an important relationship with Argentina going forward and in agreements between which, surely, will be seen due to the importance that the United States has in the International Monetary Fund (IMF) for the next agreements”.
Asked on CNN Radio whether those agreements with the IMF will influence a possible exit from the stocksFrancos responded: “Everything has to do with everything“. “The direction towards the future is directly related; If there were an agreement with the IMF that involved a disbursement, we would be closer to the lifting of the stocksthat the Government has it perfectly in mind and we will do it at the right time“.
“At this point, We should have more confidence in the things that the President carries out in economic matterspredicts and delivers,” he summarized.
Political reform in Congress
The Government announced this Friday that it will send to Congress the Reform Law for Electoral Strengtheningwhich proposes eliminate Simultaneous and Mandatory Open Primaries (PASSED) and set greater requirements for the existence of political partieswill reduce public financing and increase the possibility of private contributions, among other points.
“The project proposes an important reform in the law of political parties and electoral issueswhich of course has to have approval in Congress,” he summarized Guillermo Francos and hoped that “there would be a process of debate and agreements regarding political legal entities, the financing of campaigns and PASO“.
In that sense, he pointed to “a series of norms that tend to make the exercise of politics transparent“. Regarding the dissidence of the PASO reform of the allied blocs, he said that “there are always different points of view and different historical and political opportunities” but he reiterated that “the PASO have been a great cost for the State and for the electorates, who are forced to be part of elections that have to do with the internal life of political parties.”
Inflation and basic basket for October
October inflation managed to pierce the long-awaited 3%. The data was even below what was estimated by the REM and some consulting firms, since it stood at 2.7%. But not only that, The CPI also managed to break 200% year-on-year, which, on this occasion, reached 193%as reported this Tuesday by the National Institute of Statistics and Censuses (INDEC).
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“October inflation was 2.7%. It is the lowest figure so far this year and the lowest figure since November 2021, that is, for three years. when Argentines were still suffering from the delirious restrictions imposed by the pandemic,” the presidential spokesperson celebrated, after learning the data. Manuel Adorni.
On the other hand, the cost of the Total Basic Basket (CBT), that determines the poverty line, rose 2.3% in October nationwide. It was about the narrower variation since November 2021.
Thus, a “type” familymade up of a 35-year-old man, a 31-year-old woman, a 6-year-old son and an 8-year-old daughter, she needed $986,586 to not be considered poorin accordance with the INDEC parameters.
For its part, the Basic Food Basket (CBA)which measures the poverty line, increased 1.4%. Therefore, a family needed $434,620 so as not to be considered destitute.
Source: Ambito
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