Economists estimated that during 2023 the Argentine economy will not grow and will continue with very high inflation, of the order of 6% per month. While they called for drastically reducing public spending and paying attention to the “suffocation” suffered by the private sector.

For Fausto Spotorno, next year there will be no economic growth but there will be “significant inflation”, which he estimated to be in the order of 6% or 7% monthly average.

When presenting at the Provincial Economic Congress organized by the Fundación Libertad de Rosario, Spotorno considered that in 2023 the international scenario will not be favorable for Argentina, since the global economy “entered into a process of adjusting rates and adjusting tax that will lead to a slowdown in activity”.

For his part, Roberto Cachanosky emphasized public spending: he admitted that the fiscal deficit “does not worry me so much, but the level of spending does, because that means that they are killing us with taxes.”

“Currently there are 48 points over GDP of consolidated public spending, which are absolutely impossible to finance. And this leaves the economy – with a view to December 2023, when a new government takes office – in a worse situation than in 2001,” he warned.

He also estimated that inflation will remain very high in 2023, in the order of 6% per month.

In her turn, Diana Mondino also stated that it is “essential” that public spending be reduced, but she focused on the private sector, on which she noted: “its profitability is suffocated. They will reach 2023 without working capital, without stocks. And so it is very difficult for this sector to recover.”

“We have an economy without savings and a very impoverished population,” stressed the economist.

Source: NA