março 20, 2004

Na Cauda de Um Continente

No Ludwig von Mises Institute, excerto de um artigo sobre a crise económica argentina (meus destaques):
"At the same time, the central government was engaged in privatizing moribund state firms and assets, which supplemented the treasury's revenue intake. In sum, Argentine authorities could not run budget balances even amid robust economic growth and one-off collections of privatization proceeds.

As one would expect, the necessity of borrowing to sustain public spending in even the best of economic conditions portended fiscal travails for Argentine politicians as recession beset the country in 1998. Declining tax revenues coupled with rising demands for social spending (the other side of the cyclical coin) made fiscal consolidation more difficult to enact."

Condenação política pela dificuldade em, durante uma recessão, efectuar a consolidação orçamental que deveria ter sido realizada durante o período de crescimento? Faz-me lembrar um país europeu...