Graphic: Argentina’s untrustworthy macro budget forecasts
The budget presented last week by the government is unlikely to see a quick Congressional approval. Just like with the bill to re-negotiate bonds issued under Argentine law, the opposition suggested that it will wait until the election is over before entering into discussions.
Despite this, the Economy Ministry’s projections on growth, inflation and the peso-to-the-dollar exchange rate within the budget have caught the headlines. Recent history, however, shows these figures have always been overtly optimistic.