Argentina’s government grows bizarre; inflation, as per them, rocks!
To make matters worse, the government has increased tax on soya bean exports from 35% to 45% and also is imposing tax on other farm products including wheat. This has led to widespread agitation and blocking of supply of agricultural products. This has created huge upward pressure on the food prices. But all is hunky dory as per the vivacious President Cristina Farnandez. The rise of inflation in May, according to the government, was just 0.56% over the previous month. INDEC, the government ‘statistician’ institute, hilariously claims that the major cause of inflation is the rise in education and health care costs.
When Cristina Farnandez de Kirchner (above) succeeded her husband as President, she promised to bring many changes. One couldn’t have imagined that the most fantastical change would be a statistical one. Argentina will continue to suffer till it takes long term measures to revive its economy. To say policy changes are imperative is almost akin to kid-speak. The first step is actually accepting the problem!
To make matters worse, the government has increased tax on soya bean exports from 35% to 45% and also is imposing tax on other farm products including wheat. This has led to widespread agitation and blocking of supply of agricultural products. This has created huge upward pressure on the food prices. But all is hunky dory as per the vivacious President Cristina Farnandez. The rise of inflation in May, according to the government, was just 0.56% over the previous month. INDEC, the government ‘statistician’ institute, hilariously claims that the major cause of inflation is the rise in education and health care costs.
When Cristina Farnandez de Kirchner (above) succeeded her husband as President, she promised to bring many changes. One couldn’t have imagined that the most fantastical change would be a statistical one. Argentina will continue to suffer till it takes long term measures to revive its economy. To say policy changes are imperative is almost akin to kid-speak. The first step is actually accepting the problem!
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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