Macroeconomy/Finance

Argentine government announced palliative macroeconomic measures and GDP could fall between 2.5% and 5%.

The Argentine government announced this Monday, that is considering granting a fixed amount for single payers and self-employed workers in the lower categories, defining that there will be no obligation to pay the mono-tax, a postponement for pensioners of the payment of services and a ban on cutting off essential services such as electricity, gas, water and internet. Argentina has an informal economy of the order of 35%-40%, made up of sectors for which the situation could become critical in the face of the emergency. According to INDEC data, 22% of households are headed by unregistered workers and 43% are poor. 23% of homes depend on a self-employed person, and 35% are poor. Calculations indicate that the fall in GDP for this year could be between 2.5% and 5%.

Source: Ámbito

Categories: Macroeconomy/Finance