ARGENTINE’S FOREIGN TRADE DECLINES
BUENOS AIRES, March 11.
A pessimistic appraisal of Argentina’s trade and economic outlook was given today in the annual report for 1948 of the Argentine Chamber of Commerce.
The report said: “According to reports from our members, our foreign trade suffered a vertical slump in the second half of the year with a noticeable reduction of both exports and imports.” Agricultural production had not reached the levels of previous years because, among other factors, it was “undoubtedly discouraged by the lack of adequate remuneration proportionate w’ith the world demand for its products.” Cattle raisers also “lacked the proper stimuli,” while secondary industries had suffered all sorts of inconveniences, among them a reduction in the hours of work a man, in spite of wage increases. Inflation was far from being checked. Municipal and State Governments were racing to increase their budgets and tax increases were unavoidable, said the report.
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Greymouth Evening Star, 14 March 1949, Page 3
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152ARGENTINE’S FOREIGN TRADE DECLINES Greymouth Evening Star, 14 March 1949, Page 3
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