President Cristina Fernandez

Wednesday, 3. October 2018

When is was still discussing package of measures announced by the Government a few days ago (some of which have already been without effect while other work continues to achieve its adoption), President Cristina Fernandez de Kirchner, announced a new economic stimulus plan amounting to $13.2 billion. The new measures announced by the Argentine Government aims to sign both demand and supply. On demand, the main objective is the consumption of families which has been significantly affected by the turbulence of internal origin both the international financial crisis. By the supply side, support for the export sector is considered key to hold one of the pillars of the Government as it is the external surplus. A positive element (halfway): Cristina Fernandez de Kirchner’s Government has acknowledged that the Argentine economy is in trouble, but unfortunately still does not make the sinceramiento that the market expects.

Is that even though the Government acknowledges problems in the economy, not It assumes its responsibility in the situation, making the only explanatory factor of the current economic situation in Argentina, the external element. That at least is what declared the President saying the following words at the beginning of the announcement of the new plan: this is a meeting that I have not liked having to make () this time Argentines it does not produce the crisis and perhaps we will have to suffer a part of this tragedy. This denial of responsibilities on the current situation, although it may seem like one minor issue, it is not and can play a significant role in the effectiveness of the plan. But returning to the advertisement, the package by $13.2 billion, to give an idea of the magnitude of it I must say that this value represents around 1.2% of the gross domestic product (GDP) Argentine. On the allocation of this money, the Government announced the following: $3.1 billion will be allocated to the automotive sector which is expected to finance the purchase of 100,000 vehicles.

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