The Bank from which the governor asked for credit for Corrientes, worsened its forecast for Argentina
This is the World Bank. The provincial leader, before starting his tour abroad, had anticipated that he was going to ask for 10 million dollars to reactivate public works paralyzed by President Javier Milei, whom the local head of state supports.
The World Bank considered that the Argentine economy will fall 3.5% this year as a result of the economic crisis it is going through. The new forecast, which is part of the update of global estimates, implies a drop of more than 6 points from the previous calculation, when it was expected that local GDP would grow 2.7%.
According to the organization’s latest World Economic Outlook report, the Argentine economy, which was already suffering from deep structural problems, will suffer a considerable contraction in 2024. However, the report also points out a possible recovery for 2025, with a projected growth of 5% , as long as effective policies are implemented to address economic imbalances and control inflation.
Last week, until last Saturday, June 8, the governor of the province reported that he met with authorities of the credit institution, he said that he explained the natural benefits and potential that Corrientes has to invest.
The provincial leader, before making his 12th foreign trip – since 2017 when he began his first term – had said that he would request 10 million dollars to reactivate public works in the province.
Work that was paralyzed by President Javier Milei, whom the governor supports and defends the libertarian economic policies of adjustment and supposed zero fiscal deficit.
In Corrientes there are two major works: the National Route 12 Highway that has not been completed for eight years and the construction of the Añá Cuá energy dam, located in Ituzaingó in the president’s hometown. 450 workers were fired from that work in December 2023. Until now the governor has never formally demanded the reactivation of the same, which has a little more than 40% completion and which once finished will provide 10% more energy power to Yacyretá. .
