Debate starts in congress this week Monday, September 12, 2016 Budget bill to forecast 3.5 percent growth for 2016The government will forecast a sharply lower inflation rate and strong economic recovery in 2017’s budget, which is expected to start making its way through Congress this week, according to Let’s Change’s leader in the Senate. Data on Wednesday showed industrial production contracted 7.9 percent in July from a year earlier, marking the sixth straight month of shrinking output. The government statistics agency said gross domestic product shrank 0.7 percent in the first quarter of the year from the last quarter of 2015, confirming a third consecutive quarter of negative growth. “It is basically a mechanism to distribute risks between the state and the private sector,” Pinedo said. Macri’s Cabinet Chief Marcos Peña said last week that gross domestic product will likely contract by one percent in 2016.

Source: Bueno Aires Herald September 12, 2016 00:56 UTC