Guzman signals faster than expected economic recovery in 2021

[MilHojas]

Argentina's Guzman signals faster than expected economic recovery in 2021

Argentina's gross domestic product will grow at least 7% this year, Economy Minister Martin Guzman said on Tuesday, signaling a faster than previously expected recovery after three years of recession exacerbated last year by the COVID-19 pandemic.

www.reuters.com

 

[milanesas]

I love that they actually admit they need foreign investment. The government officials should mention though that they will quickly make you into an imperialist plundering enemy overly focused on profit the second you begin operating though.

 

[antipodean]

Between 2019 and 2020, Argentina’s “GDP Growth” was -11.78%.

Has anyone been to Calle Florida or taken a walk through Microcentro lately or down other major streets like Córdoba or Cabildo?

The average income today in Argentina is now about US$450 a month. US$5400 a year. For comparison, the “cut off” to still be considered an “upper middle income” country is US$4046 per year.

If the GDP that remains in 2021 is essentially just soy exports and if international commodity prices are like 25% higher this year than last, then of course you’re going to see “economic growth”.

What you’re not going to see is new investment, jobs and reduction in poverty, or getting back to a level we saw in an already sh!tty year like 2019.

 

[jblaze5779]

Yeah I've been reading stories regarding the president pitching to other countries for investment. Are you crazy?

 

[dsp27]

Printing more Evitas is always an option.

 

[antipodean]

They will then tax those evitas a new 40% effective corporate tax rate and won’t let you change them into dollars to repatriate, all the while devaluing them by 50% a year in inflation.
This is what some actually consider a “competitive economy”.

Just today Argentina is ranked right alongside Venezuela, Cuba and Haiti in terms of attractiveness for foreign investment in the Americas. Yet some seriously try to say otherwise?

 

[sts7049]

if it doesn't grow 7% it will be macri's fault

 

[antipodean]

Quejas de las empresas europeas en la Argentina por las trabas para comprar los dólares que necesitan para importar

La Eurocámara, que agrupa a más de 2.200 compañías privadas de ese origen en el país, le planteó al ministro de Desarrollo productivo, Matías Kulfas, una serie de medidas para beneficiar al sector importador

www.infobae.com

European chamber of commerce in Argentina is lobbying the government to take urgent measures to improve access to dollars in order to be able to continue doing business in the country.

“Argentina is a net importer of technologies and inputs for production. An interruption in the chain of payments and suppliers threatens the continuity in the flow of investments and the genuine generation of foreign currency in our country ”(Giorgio Alliata di Montereale)

Meanwhile on planet propaganda, invest in Argentina...! We won't even let you buy dollars to import the components you need to produce and sell to local clients or assemble and export because we have autarky that gives any business and all inhabitants everything they need to thrive!

 

[sts7049]

when i see guzman's face in that article it makes me think of this meme guy