Argentina President: '09 Tax Revenue Down ARS34 Billion From
Expectations
BUENOS AIRES -(Dow Jones)- Argentine tax revenue has fallen by 34 billion
pesos ($9 billion) so far this year compared with the expectations in the budget
for 2009, President Cristina Fernandez said Tuesday.
The decline has involved a "major effort" to assign resources carefully,
Fernandez told the Argentine Construction Chamber.
Fernandez highlighted that there are signs of recovery in tax receipts and
other economic indicators.
Tax revenue in October surpassed the Argentine government's expectations,
posting a 8.8% gain on year.
A slew of economic data published Friday suggests Argentina's economy has
stabilized after a sharp drop and is starting to grow.
Economic growth moved higher in September, while in October, industrial
production, trade and the government's accounts all looked brighter.
However, Argentina's unemployment rate edged up to 9.1% during the third
quarter from 8.8% the previous quarter and 7.8% a year earlier.
Unemployment hit a low of 7.3% during the fourth quarter of 2008, but it has
steadily increased since then as economic activity slowed due to the
international financial crisis.
-By Shane Romig, Dow Jones Newswires; 54-11-4103-6738; shane.romig@
dowjones.com
(END) Dow Jones Newswires
11-24-091841ET
Copyright (c) 2009 Dow Jones & Company, Inc.
|