Argentina Eases Fiscal Target to Boost Growth, Macri Says
- Macri says may cut 2017 deficit reduction target to 4 percent
- President to cut taxes, find new trade routes to boost growth
Macri: This Is a New Argentina, Come Invest
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Maintaining fiscal discipline while hauling Argentina out of a protracted recession to lure foreign investment is proving to be President Mauricio Macri’s toughest challenge.
The government may cut its fiscal deficit target to 4 percent from an original 3.3 percent in the 2017 budget it will present to Congress on Thursday as spending increases, the president said in an interview with Bloomberg. The government may not be able to fulfill an election campaign pledge to cut taxes on soy exports by 5 percent, according to two people familiar with the matter. Soy taxes represents about 37 percent of total tax revenue for the government.