Argentina 2011 budget eyes inflation below 10 pct

BUENOS AIRES, Sept 12 (BestGrowthStock) – Argentina would post
economic growth of 6 percent next year and official inflation
of less than 10 percent according to forecasts the government
is using to draw up its 2011 budget, state media reported on
Sunday, citing unnamed sources.

Opposition politicians and private-sector economists have
often criticized President Cristina Kirchner for
underestimating inflation, which some say has run into double
digits and hurt investments in South America’s second-largest
country.

The budget proposal, which would be formally submitted in
the coming days, also includes a provision for a possible
working out of some $6.5 billion in unpaid debt that Argentina
owes to the Paris Club of creditors.

Argentina’s economy collapsed in 2001-2002 and it entered a
massive sovereign debt default that has taken years to sort
out. Officials were not available to comment on the report by
state media.
(Reporting by Magdalena Morales; Writing by Terry Wade;
Editing by Maureen Bavdek)

Argentina 2011 budget eyes inflation below 10 pct