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Brazil & Southern Cone - January 2017 (ISSN 1741-4431)
Taming inflation the key goal for 2017
One of Argentine President Mauricio Macri’s main promises when taking office in December 2015 was that his government would rein in inflation in the second half of 2016 if the public would just bear with him while some painful economic adjustments, spurring inflation, were made in the first half of 2016. While inflation did slow towards the end of 2016 the slowdown was not as quick as promised and, according to private analysts, accumulated inflation in 2016 reached its highest level for the last 14 years at 40.3% by year-end. The government’s failure to get a firmer grip on inflation earlier almost cost it dearly in late December 2016 when it had to fight a rear-guard action to prevent the federal congress from approving a bill that would have lifted some 1m workers out of the tax bracket for the impuesto a las ganancias (payroll tax), and drastically cut tax revenue for the government.
- Adjusting economic policy, personnel
- Taming inflation the key goal for 2017
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