Monday , May 10 2021

The economy re-entered the recession – :: El Litoral – News – Santa Fe – Argentina



The economy rejoined again

In Macri, it fell by 5.8% in September.

10 - IMG_0465.jpg

Construction caused negatively in global economic activity.

Photo: El Litoral / Archive

Editing El Litoral

[email protected]

The fall in the economy accelerated in September, growing by 5.8% year-on-year; Thus, it was officially reintroduced, the second Macri period, according to the monthly economic operator (Emae) released by Indec.

Thus, the activity continues for six months with negative results. Indiera stated that Emae fell 1.9% compared to the previous month.

"In the third quarter, with still provisional data, it fell by 0.4% with regard to the previous one. The second is followed by a technical recession that can be said as a jargon," said Ledesma adviser to economists at the Gabriel Caamaño consultant.

Economic activity, in general, decreased due to lower industrial production in the ninth month of the year, explains the INDEC report in the consumer sector, construction and transport decline. In addition, Ema registered a 1.5% drop in the first nine months of the year, the agency has reported.

The fall in September fell by 10.8% in industrial activity, 12.8% in Wholesale and Consumer Durables, 2.9% Construction and 4.6% fall. transport sector

If there were no falls, it was an increase of 2.2% in the agricultural sector, due to the beginning of the work of the consolidated harvest, which in the case of wheat is expected to reach 19.7 million tonnes. One of the greatest stories.

"The GDP in the third quarter fell by 3.5% in year-on-year terms and adjusted to 0.4% during the season. Although the shock of the drought was behind, the crisis in the end of August brought GDP," said Lorenzo Sigaut Gravina, economist at Ecolata.

The same counselor stressed that economic contraction mainly responds to two factors: the rise in the exchange rate and the acceleration of inflation. "Reducing the power of money and purchasing power, demand for durable goods and consumption, and minimizing the production of companies, in the context of sales growth, there were large stocks due to the rise in the financial cost."

According to the Ministry of the Treasury, this year's Gross Domestic Product (GDP) will have a 2.4% fall in foreign "financial turbulence" because it reduced the country's financing, currency devaluation and agricultural drought. in the first four months of the year.

The following year, the GDP fell by 0.5%, but calculates the economic recovery in the second half.

Increase in pensions and bonuses

Retirement benefits, family benefits and other social security benefits will be 7.78% at the beginning of December. This measure was formalized by a resolution of the Ministry of Health and Social Development, on Friday, in the Official Gazette.

As a result, all advantages will have an increase of 28.8% this year, with almost 20 percentage points of inflation in the expected year.

In 2017, an improvement of 28% was accumulated, with an average price increase of 24.8%. Thus, with the final adjustment of 2018, the minimum pension will pass to 9,300 pesetas.

In addition to the new resolution, the updated monthly updates of the monthly payments received by employees of the century-old relationship have been approved since the day after they have been approved by this Decree. Law 2 with number 26,417.

From March 1, 2018, mobility will determine the variations in the National Price Index of the indices by 30% and the coefficient arising from the variation in the Tax Payment of the average of 30%. Stable workers (Ripte).

Mobility has retired and retired 7 million people, with more than 1.5 million National Pension Contributions (PNC) and Senior Pension Plans (PAM), 4 million Universal Appraisal for Children (AUH) and more than 5 million family allowances.


Source link