Raised fears of a sharp decline in imports of Argentina

Argentina's President Cristina 20, that since the beginning of this year a substantial decline in Argentina imports are mainly due to the Government to protect domestic industry adopted a series of restrictive measures, not because the recession resulted in the decline in consumer demand.

According to the Argentina National Bureau of statistics released today, the first five months of this year realization 83.33 million in Argentina's trade surplus, and compared to the same period last year increased by 63%. The report analyses indicated that the first five months of this year, export trade are Argentina a downward trend, but because imports drop far exceeds the rate of decline of exports, compared to only allow a substantial increase in the foreign trade surplus. Statistics show that the first five months of this year's exports of Argentina has fallen by 40% year-on-year, five months of imports decreased year-over-year dropped 49% since September 2002 single imports decrease the maximum of one month.

Part of the Argentina research institutions and economists analyze that caused a sharp decline in imports of Argentina is due mainly to a significant decline in economic growth, the impact of the consumption. According to the report of the Argentina National Institute of statistics, in the first quarter of this year compared to Argentina's GDP increased by 2% in 2002, economic growth is slowest quarter. But most research institutions that Argentina's official statistics "EHO", Argentina's economy in the first quarter of this year, in fact already into recession.

Argentina importers Association President Diego · Santi Sturt ban said, a significant decline in Argentina imports are mainly due to the economic decline caused by declining consumption. Imports decreased gradually to the Argentina of the industrial sector, increased the extent of the recession. He pointed out that the Argentina Government in order to ensure that the ruling coalition won the parliamentary elections at the end of June, reinforces the restrictions on the import of products, also on import trade had a significant impact.

Christina on the day of the statement stressed that ' the Government to take measures to restrict imports is the first few months of imports dropped significantly. These policies protect Argentina's industry sector and the employment market, prove the countries on the need for economic intervention.

In addition, in May this year, the primary fiscal surplus for Argentina 9.15 billion pesos, and compared to the same period last year reduced by 85%. Due to the implementation of trade and financial surplus is the Argentina government economic policy core, so a significant decline in the financial surplus caused Economist fears. To this end, Argentina's President Cristina in today's speech emphasized that the financial surplus declined mainly due to the international financial crisis, instead of the Government's economic policy.