Argentina targets 25% inflation and fiscal deficit of 4.8% of GDP this year
Argentina Finance Minister Alfonso Prat Gay revealed on Wednesday that the fiscal deficit registered in 2015 was of 5.8% of GDP and 7.1% of GDP is all debts are computed, and complained that “there has been wasteful spending and when there is an expense it’s not well done.”
In a news conference, Prat Gay presented the fiscal plan for 2016, which predicts an inflation of 25% and a fiscal deficit of 4.8% of GDP. He added that Argentina ended 2015 with an inflation of 28%, with the last three months reaching almost 30%. The goal for 2017 is to reduce inflation to between 12 and 17% and to end President Macri's mandate with a one-digit consumer index.
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