Argentina Budget Forecasts 60% Inflation as Economists See 100%
- Government sees 2% economic growth in 2023 budget proposal
- Primary deficit for 2023 seen at 1.9% of GDP, in line with IMF
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The Argentine government projects prices rising 60% next year, a much lower rate than private economists estimates of over 100%, according to Economy Ministry officials who asked not to be named to discuss the 2023 budget proposal before it’s published.
The budget, the first under Economy Minister Sergio Massa, offers a view into his economic vision during an election year and a test of his political capital as a veteran lawmaker. Congress rejected the 2022 budget draft on the grounds it wasn’t realistic, a setback for President Alberto Fernandez that forced his government to muddle through this year with an extended version of the budget from 2021.