inflation expected by the Minister Amado Boudou is 7% on a dollar to $ 3.95. He said the growth rate is "conservative" and can be higher.
Minister of Economy, Amado Boudou, said today that the draft budget for next year that Government sent to Parliament provides an economic growth of 2.5 percent, inflation of 7 percent and an average estimate of 3.95 dollar pesos.Boudou told Radio Mitre that "next year, we are providing growth of 2.5 percent, but acknowledged that "it's a standard conservative." "For us it is important to fiscal strength," said the official, but said the guidelines included in the "realistic", but "expectations may be higher." Asked about the primary fiscal surplus, the holder of the Economy Ministry said that "we expect will be about 27 billion, is 2.7% of GDP Gross Domestic Product (GDP) "and stressed that" this amount we'll be okay to continue paying down its debt. "This is a figure we think is very much in line with what has happened this year and with more favorable prospects of next year "said Boudou, who recalled that" this year we talked we had been able to fully fund the maturity, well next year maturities are lower and the amount we'll be okay to continue debt reduction in 2010, have growth, fiscal surplus , trade surplus and paying down its debt while.
Asked about the value of the estimated budget will the dollar next year, said that "we have a dollar to 3.95 pesos in 2010, on average," and clarified that "this is very important for a country like Argentina, where fear keeps people from other eras." "That's an issue that Argentina must continue to provide certainty and to continue with this scheme of floating exchange rate given that it has been very favorable to the country from 2003 to date, so make sure this peace and this forward. For that to me this morning when I saw the number is 4.22 caught my attention and alerted me because first I do not know where it came from, and second to publish things before taking view of what I think it was sent is not a good idea " said the minister.
In this regard, said "we (by officials of the Ministry of Economy) work was to give certainty as these past few months, you saw that Argentine bonds have performed very well. On the other hand, regarding the end of this year, the minister said that "we are expecting that this year there will be an increase of 0.5 percent, very little growth, but in terms of what happens in the world, Argentina, as we always has been avoiding this crisis as best as possible. "On inflation, said that for next year is expected" in the order of 7 percent, "and expressed that, while not "like to make predictions, this year the consumer price index closes" good. " On inflation and measures of the National Institute of Statistics and Censuses (INDEC), said that "it is an issue that has been accommodating and tracking, missing three months."
regard to the budget, Boudou said the planned expenditures total about 300 billion dollars and expected revenue of 327 billion pesos, yielding a primary surplus of 27 billion pesos. On expenses, said "basically (are) pension" as these items "have been growing in recent years and is in the order of 40 percent of the total budget.
Regarding the level of investments estimated for 2010, the head of the Economy Ministry said that "it will be of the order of 45,000 million pesos." Boudou said the investment "this year has been one of the engines of growth and employment, especially in construction and public works."
On the other hand, Boudou referred to the relationship with the International Monetary Fund (IMF ) and said next week in the U.S. city of Pittsburgh, which will host the summit of the Group of 20 (G-20), "we will have meetings with people of the Fund." For us is very important that these meetings of the Fund was determined that developing countries will have 50 percent of the vote, on an equal footing with developed countries. "connection, specified that" if it continues to move forward on these issues we may have an exchange of information, a technical meeting, "because" our relationship with the Fund we want to be technical, not political. "
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