Argentina has a GDP of more than US$540 billion, and is one of the largest economies of Latin America. Recently, Argentina focused on its economic development including society.
Internationally, the country maintains healthy relations with most of the countries of Latin America, Brazil and Venezuela in particular. Regional Policy making is an area, where the nation plays a leading role in its ability, as it represents Latin America in the G20, along with Brazil and Mexico.
The economy of Argentina is remarked by its valuable natural inexhaustible resources. Because of her livestock industry and a large scale agriculture, Argentina has emerged as a major food producer. It is one of the largest beef exporters worldwide and one of the leading producers of sunflower, yerba mate, lemons and soybean oil.
Argentine Economy has grown stably during the past decade. The country heavily invested in health and education of its citizens, and these account for 8% and 6% of GDP respectively. Between the years 2003 and 2009, the middle class increased double its size, from 9.3 million to 18.6 million.
Argentina prioritized spending on society in accordance with various programs, including the Universal Child Allowance, which amounts approximately to 3.7 million children and adolescents up to the age of 18 years, i.e. 9.3% of the population.However, recently, the external sector of the country was challenged significantly.
During the year 2014, the fiscal accounts had a primary deficit of 0.9% of GDP and atotal deficit of 2.5% of GDP. In the Public Sector the revenue increased 42.5%, whilethe spending increased 45% in comparison to the previous year. However, the forecast for the growth in the present year ranges from 0%to 1%.
AKSHARA BHARGAVA
No comments:
Post a Comment