Por Miguel A. Kiguel
Todos sabemos cómo funciona el cepo, y hemos aprendido a vivir con tasas de interés reales negativas, a usar el dólar Contado con Liqui para eludir los controles...
Mid-term macro assessment: Goodbye growth, hello stagflation
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Mid-term macro assessment: Goodbye growth, hello stagflation
Julio 2012
During the first semester there has been a sharp deterioration in the overall macroeconomic performance. While external factors have played a role, most of the explanation lies on domestic economic conditions and policies.
The most recent figures show a drop in industrial production, investment, construction, retail sales and consumer confidence among other indicators. In the meantime inflation does not show any signs of being receding as wage increases remain in the mid-twenties and the prices of food and beverages are soaring. Stagflation is the name of the game.