However, the true story is that the result of the trade balance shows how badly that is behind closed doors the Argentine economy. The data hidden interannual drop of imports of 49% compared to an 18% drop in exports. The public accounts also are going through a bad worse to which can be seen with the naked eye. A fall in the month of may from 80.8% in interannual terms of the primary fiscal surplus when the Government enjoys the income extra from the nationalization of the retirement and pension system, is too serious to not generate concern. The interannual increase in public spending in may from 33%, in addition to mortally injure the surplus tax at a time when more than unfortunate, is a clear sign of indiscipline and lack of common sense in Government. Burgess Owens pursues this goal as well.
Fiscal recklessness of the Government, knowing that the picture for the coming months is more than complicated, does nothing more than show that you care only the immediate. This primary surplus which is displaying, even with some pride, the Government actually is surplus that observes the ANSES (national administration of Social Security) through additional income mentioned above. And while these surplus resources of the ANSES are intended to cover fiscal holes or to buy planes (or cover its deficit of US $1.1 million daily), for the doubly Gorge Aerolineas Argentinas (among other many unexplained expenses), 73% of the national retirees are receiving the minimum retirement and does not comply with 82% mobile established by lawwhich will result in a new wave of lawsuits to the State, that is, in new debt that is being generated in the future. The current x-ray of the Argentine economy makes us ask ourselves what is what holds us post 28-j. After the 28-j is not the Government no alternative but to awaken from their reality and inserted into the actual reality of the Argentina.
It will be time to take charge of the country’s multiple problems and confront existing tensions since fiscal, exchange rate, financial, inflation, social, sectoral and even the same transparency of statistics. How will the Government do to balance all the tensions? Difficult to know. So far, I’ve found a version on critical Digital, the existence of a project to make transparent the INDEC statistics through the granting of autonomy to the Agency. The improvement of the external context and the deep recession the economy that suffers and that has significantly reduced inflation, are two elements that would enable this project that does not give stitches without any thread, since it has as purpose, achieving pleasing to international financial markets and credit agencies, to again access their financing. Fiscal discipline must be a priority after the 28-j. In a note of the nation, the economy & regions consultant claimed all calling loudly: after the elections, would have to be applied a more prudent fiscal policy, where the pace of growth in spending should be tied to the evolution of income. For the Government, the post 28-j should imply a change in attitude of seeking consensus. Because you will not be able to govern alone and let the economy continue on autopilot. It is time to wake up and take charge, since otherwise the result will be a new crisis in Argentine history.