Well, Argentina has been in recession for more than a decade. Now, he's cut 30% of the government spending and... the economy is back to growth.
So, sorry for destroying your Keynesian beliefs.
So, sorry for destroying your Keynesian beliefs.
This month uptick YoY appears to be driven by their agricultural sector which last year had suffered due to a severe drought.
The IMF just revised their GDP projections down from -2.8% to -3.5% for this year.
Seems a wee bit premature to start gloating.
To the rest of us layman not familiar with your language, they just entered into a recession earlier this year[1]. And on behalf of us laymen, we'd love to know more about the etymology and context of your use of "more than a decade". To the rest of us, that normally means 10s of years, not mere months.
[1] https://www.reuters.com/world/americas/argentina-jobless-rat...
(Now we had like 10 definitions of the dollar/pesos ratio. The official one is 950AR$/US$ but it's almost imposible to buy at that price. To buy dollars, the prices are around 1300AR$/US$ or 1500AR$/US$ depending on the day of the week.)
[1] https://www.indec.gob.ar/uploads/informesdeprensa/pib_06_242... [2] https://i.imgur.com/f0pIiFE.png
[1] Comparison of the official inflation rate and the unofficial one published by the oposition in the congress: https://economictrends.com.ar/2015/01/16/economia-en-1-grafi...
[2] Anyway, I remember 2015 was a good year, we had a huge soy harvest and the international price was very high.
Keynes just suggested, that there may be better options to end a recession than to fight a war.
Argentina, like most South American countries, has too much red tape, too much bureaucracy, too much corruption, too many people with entitlement. I don't think Keynes has much to do with it. And please spare me the ideas of god' ol Ludwig who has not worked one day of his life in private entrerprises.