The worst case scenario: Argentina enters its third period of stagnation and high inflation

If confirmed, it would be the sixth episode of its kind since the crisis of 2001/2002 and the third of the two and a half years of Cambiemos alliance management.

According to the report, between the two ends of 2008 and early 2009 "while retail prices were growing at an annual rate of 20 to 25% while the economy shrank between 3 and 4%. year by year because of the conflict with the countryside and the international financial crisis "

A similar situation was recorded in the second quarter of 2012, when inflation indices between 24 and 25% were recorded and that economic activity has contracted nearly 3% from one year to the next. "The exchange rate established at the end of 2011, the contraction of the automotive industry due to the drop in demand in Brazil and a slight drought explain the decline," says the report.

Another stagflationary period was recorded after devaluation of January 2014.

By the end of 2015, activity has further declined, while annual inflation has exceeded 25%. "He was badociated with the change of government," says the report of the CENE

Finally, in February 2016, there was a further decline in the level of activity that lasted until the middle of the year. Year, at the same time that prices have increased at a rate close to 40% per year.