Argentina has another government after an acutely challenged elections. Alberto Fernández has since his take over in October 2019 been hopeful to transform the country. Indeed, even before getting down to business, President Fernández pronounced that Argentina was in a difficult circumstance with a national debt of $300 billion owed.
This debt is more than its yearly GDP to the International Monetary Fund (IMF) and other leasers. Argentina had issues with debt even as the past government attempted to figure out how to deal with the debt “gulping” them. The past government led by the previous President Mauricio Macri executed grimness, including increased taxes and decreased subsidies however the swelling was all the while taking off and the peso was plunging against the dollar.
It is however fascinating to know how the economic policy of ex-President Mauricio Macri seems to have offered approach to recharged financial populism under current President Fernández.
As at 2019, Argentina’s ease of Doing Business positioned 126 in the world while the Corruption Perceptions Index was 85. In another statistics, the country’s GDP per capita for that equivalent year (2019) was US$11,683.90 as the GDP growth for 2018 was 2.5%.
With regards to the task ahead of him, the new President Alberto Fernández has some positive developments to expand on. One of them is the deficit, which incorporates government incomes and costs but excludes interest, and will float around 0.5% of GDP for 2019, which is a drop from earlier years.
The government is currently doing everything it can to decrease the monetary weight on Argentina. They are treading cautiously on the most proficient method to do it. This is where the help from the past government to endure is required.
Nonetheless, one terrible thing about the entire issue is the manner by which most investors are step by step losing trust in the country since it was revealed that Argentine government officials have regularly been trailed by charges of corruption. There is a touch of stain on the hands of practically all government heads on corruption claims.
Well, until further notice, Argentina’s future seems dubious as the new government led by President Fernández is investing a lot of exertion to improve the economy. With a populace of 44,998,458, the residents are hopeful the economy will develop under the watch of President Fernández. They trust this government doesn’t endure a similar destiny as the past one but will rather be successful.