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  HOME | Argentina

Brazil’s Crisis Will Chip 1.5% off Argentina’s GDP, Official Says

MADRID – The crisis in Brazil, where an interim government is dealing with a recession, will take 1.5 percentage points from Argentina’s gross domestic product (GDP), Argentine Finance Minister Alfonso Prat-Gay said Tuesday.

“Brazil might determine whether we grow or not,” the Argentine official said at an EFE-Casa de America forum in Madrid, where he was introduced by Spanish Economy Minister Luis de Guindos.

“The world nowadays is very uncertain” and dialogue is required, said Prat-Gay, who has held his post since December.

“Argentina wants to be part of the dialogue, not part of the problem, like it has been until now,” Prat-Gay said, referring to the previous administration of President Cristina Fernandez.

During his visit to Spain, Prat-Gay has emphasized the opportunities for Spanish investors in his country, saying that President Mauricio Macri sent him to Spain with a message: “Tell them to get going and invest in Argentina.”

Prat-Gay said the government’s goal was to end 2019 with an inflation rate of 5 percent, compared to the 25 percent expected this year.

 

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