Macroeconomy/Finance

New elected president Alberto Fernández inherits an economy in critical condition

The economic activity is at minimum levels since 2001, with consumption falls in 42 months of Mauricio Macri’s 45 months in office. Since Macri took power in 2015 after defeating the candidate of Kirchnerismo, inflation has accumulated more than 290%, dollar has rocketed to 560% (from 9.84 pesos in 2015 to current 65 pesos), the price for electricity 3,240.1%, gas 4,096.3%. Argentina’s public debt grew more than 50% between December 2015 and June 2019, which represents an amount of more than $334 billion. In that period, $73,160 million also left the country.

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Source: Ámbito Financiero

Categories: Macroeconomy/Finance