The economy grew 7.9% in February

Clarin.com - April 18th 2007

The economy keeps growing steadily. Compared to February 2006 economy grew 7.9% and increase has been uninterrupted for 51 months, according to INDEC in its Monthly Estimate of the Economic Activity (EMAE).

Based on this data, the Ministry of Economy announced that “from a longer term point of view the economy grew solidly in the last 12 months”. In addition, this office emphasized the 0.6% positive variation of the economic activity between January and February. “Therefore, the economy turned back to expand significantly after two months in which the increase had been positive but very near zero”, was explained as a way of proving that rumours of a decelaration in the growth rate are wrong.

Furthermore, Felisa Miceli’s crowd emphasized that “as a result of the uninterrupted growth the EMAE is already nearly 50% (48.7%) over the month of March 2002, when the devaluation took place”.

Economía y Regiones consultants indicated that “the (8.2%) expansion of the economic activity during the first two months is due to the strong growth of consumption, which keeps pushing the economic growth, impelled by an active fiscal policy of stimulus to the added demand via wage increases, subsidies and increase of the public cost”.