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Economics
Argentina Should Drive Demand to Boost Economy, Fernandez Says
By
Jonathan Gilbert
7 settembre 2019, 19:24 CEST
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Presidential favorite tells Radio 10 he backs Portuguese model
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Capitalism needs demand but nation shouldn’t be fiscally loose
Alberto Fernandez, the opposition leader who’s a firm favorite to win Argentina’s presidency next month, wants to pull the economy out of its slump by reinvigorating consumer demand, though not at the cost of gaping budget deficits.
Argentines have seen their purchasing power plunge under President Mauricio Macri as a devaluation of the peso drives up inflation, which is now running at 54%. The economy is
forecast to shrink 2.5% this year. “Capitalism can’t exist without demand,” Fernandez
told Radio 10 from Spain.