Argentina's Economy

[megan]

I've been looking at some economical indicator statistics and I think Argentina is doing pretty well:

1- Argentina's GDP had a growth of 74.1 % in 10 years, making it the 44th fastest growing economy in the world.

GDP growth in the last ten years

2- The debt as a % of GDP is decreasing, Now less than 25% of the GDP

Debt - external
$136 billion (31 December 2011 est.)

GDP (purchasing power parity)
$725.6 billion (2011 est.)

The Budget deficit has decreased to -1.7% and hopefully, we will soon turn this into a budget surplus.

Budget surplus (+) or deficit (-)
-1.7% of GDP (2011 est.)

Debt & Budget Deficit of Argentina

I'm proud to be Argentinian

 

[Dublin2BuenosAires]

What about inflation? Your analysis is very retrospective. How do you feel the economy will progress over the next few years ?

How does that fit into your campora-esque analysis ?

 

[Iznogud]

Sure, lets just ignore the obvious. Who needs reality when numbers speak such a captivating mermaid's lullaby?

Everyone is hurting, no new jobs, business is bad and more jobs are lost than created.

Inflation and crime on the rise and unchecked, likely as political tools for a New Argentina that promises some familiar traits of an old soviet republic or an oil-less Venezuela.
No international credibility, running with the wrong crowd and for the wrong reasons.
Self provoqued isolation, unsolved dependency and unpreparedness covered in arrogance. Disregarded or ignored short and long term consequences waved aside as if unimportant. There will be consequences and repercusisons.

Just keep taking the blue pills, there is no rabbit hole. But there will be a dark hole and we will be in it. Alone, helpless and ignored.

Proud to be awake.

 

[megan]

What about inflation? Your analysis is very retrospective. How do you feel the economy will progress over the next few years ?

How does that fit into your campora-esque analysis ?

The inflation is pretty high... and you feel it almost everyday as a consumer, 22% (2010 est.)
16% (2009 est.)

most sources indicate the inflation to be around 25 % in 2011... I have to admit this is one of the challenges of the economy of Argentina... I wish the government would impose some real controls and place some limits on the prices or at least the rate of increase of the prices.

Well, other than this, I see no reason to be pessimistic about the future of the economy:
- our exports are rising consistently, which is also a healthy indicator
- Oil prices are also increasing... meaning higher income
- Industrial and Agricultural production is growing consistently...

 

[Iznogud]

I bet you are young.

 

[nicoenarg]

Lol. Oh Megan, you seem to be asking for it.

What did you just leave your "Lebanese Economy Forum" to register here and tell us how you've somehow had a realization how awesome Argentine economy is?

Or are you just naive?

In the post above, you mention the inflation is estimated by "most sources" to be around 25%. Yeah? Where did you get those numbers? Why is it that you don't believe the government's inflation numbers of around 9% yet you use their GDP data and their foreign debt data?

Why is it, again, that you use their export data and budget deficit data? (EDIT: And before you jump up and yell "But World Bank...", all the big institutes have to use government provided numbers. Its a little something called "trust". That is why The Economist published an article warning their readers that Argentine government numbers weren't trustworthy. They said even China was more trustworthy than Argentina.)

According to government numbers, even the Economist Intelligence Unit predicts a growth of around 2% in the GDP this year. All the independent institutes are predicting a contraction.

As for your exports. I had to gather myself a little bit after this cracked me up. Do you just buy everything Cristina throws at you? I mean surely you're not THAT naive. Have you been keeping up with the news at all? Do you remember the import restrictions put in place? Do you also realize that the US, the EU, and Mexico have all filed suits against Argentina with the WTO. And not only that, they are either in the process of or have already put restrictions on Argentine products as a response to Argentine idiocy and breach of the WTO regulations.

But then again, responses take time in taking effect.

Brazil is also protecting its own industry against Argentine protectionism. Right now Argentina has exactly 3 allies. Venezuela, Cuba and Iran. We'll see how that'll work out for Argentina (even Uruguary wrote "Islas Falkland" in their Ministry of Foreign Affairs report. They said it was a "mistake" after Cristina got her panties in a twist and said that they will investigate).

The point that oil prices are increasing is not necessarily good for Argentina because Argentina imports oil. I don't know how you got around to thinking "oh higher income!". Yeah higher income for the oil companies and countries exporting their oil to Argentina. YPF as of now is worth crap. We'll see where it ends up later but right now they have neither the capital nor the intelligence to exploit already found reserves or discover new ones.

You're proud to be an Argentinean? Well like Iznogud said, I'm proud to be awake.

 

[megan]

Sure, lets just ignore the obvious. Who needs reality when numbers speak such a captivating mermaid's lullaby?

Everyone is hurting, no new jobs, business is bad and more jobs are lost than created.

Inflation and crime on the rise and unchecked, likely as political tools for a New Argentina that promises some familiar traits of an old soviet republic or an oil-less Venezuela.
No international credibility, running with the wrong crowd and for the wrong reasons.
Self provoqued isolation, unsolved dependency and unpreparedness covered in arrogance. Disregarded or ignored short and long term consequences waved aside as if unimportant. There will be consequences and repercusisons.

Just keep taking the blue pills, there is no rabbit hole. But there will be a dark hole and we will be in it. Alone, helpless and ignored.

Proud to be awake.

You are too awake to see the full part of the glass?

The situation in Argentina is not as hopeless as you make it sound like... name one country which is not having inflation, unemployment or political disagreement with other countries... Aren't you hearing the United States and European Economic News?

I am a very practical person... I am always looking for the positive side... and looking for a solutions... Could you please propose your view of the solutions to the problems to the Argentinian economy problems?

 

[nicoenarg]

You are too awake to see the full part of the glass?

The situation in Argentina is not as hopeless as you make it sound like... name one country which is not having inflation, unemployment or political disagreement with other countries... Aren't you hearing the United States and European Economic News?

I am a very practical person... I am always looking for the positive side... and looking for a solutions... Could you please propose your view of the solutions to the problems to the Argentinian economy problems?

Being practical doesn't mean you always look for "the positive side". I think the proper word for that would be "delusional".

As for solutions to the problems of Argentina? Well, let's start with a simple one: Tell your government to STOP STEALING!

Its of course not realistic to expect the Argentine government to at least try to be honest so its a futile attempt, I agree. You see what that was? I was being delusional, then reality hit and that's that!

 

[megan]

Lol. Oh Megan, you seem to be asking for it.

Or are you just naive?

Do you call anyone who has a different view than yours Naive?

In the post above, you mention the inflation is estimated by "most sources" to be around 25%. Yeah? Where did you get those numbers? Why is it that you don't believe the government's inflation numbers of around 9% yet you use their GDP data and their foreign debt data?

Why is it, again, that you use their export data and budget deficit data? (EDIT: And before you jump up and yell "But World Bank...", all the big institutes have to use government provided numbers. Its a little something called "trust". That is why The Economist published an article warning their readers that Argentine government numbers weren't trustworthy. They said even China was more trustworthy than Argentina.)

Yes, you don't trust the world bank numbers, you don't trust the Government provided numbers, but you do trust the private (independent institutes)?

So you think China is not trustworthy? Who is? the reality is that China & India are the future economic Hub, technological advances and by the way... start learning Chinese, in 10 years, you will need it.

According to government numbers, even the Economist Intelligence Unit predicts a growth of around 2% in the GDP this year. All the independent institutes are predicting a contraction.

Again, I trust the worldbank, IMF, CIA factbook...

Do you also realize that the US, the EU, and Mexico have all filed suits against Argentina with the WTO. And not only that, they are either in the process of or have already put restrictions on Argentine products as a response to Argentine idiocy and breach of the WTO regulations.

But then again, responses take time in taking effect.

Brazil is also protecting its own industry against Argentine protectionism. Right now Argentina has exactly 3 allies. Venezuela, Cuba and Iran. We'll see how that'll work out for Argentina (even Uruguary wrote "Islas Falkland" in their Ministry of Foreign Affairs report. They said it was a "mistake" after Cristina got her panties in a twist and said that they will investigate).

Ok, I agree with this one... that is going to drag Argentina's economy down... These regulations should be revamped... hopefully, they will be

Would you mind sharing your view of the solution to the problems of Argentina's economy?

 

[megan]

As for solutions to the problems of Argentina? Well, let's start with a simple one: Tell your government to STOP STEALING!

That's a good start, what else?