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Argentina's new Treasury Minister Nicolas Dujovne replaced Alfonso Prat Gay, and analysts expect him to emphasize fiscal consolidation and draft a tax reform for 2018. The government plans to strictly enforce the 2017 budget, targeting a primary deficit no greater than 4.2% of GDP, and to shift spending from current expenditure toward capital works.
Inflation is expected to run well above the 12-17% target range.
Tighter fiscal policy and persistent inflation shape the peso and Argentine macro conditions that influence farm selling and export flows of soy products. Capital spending on public works may support logistics but the currency outlook remains uncertain for Argentine oilseed exporters.
globalsourcepartners.comDomingo CavalloJan 31, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
