2023-08-25 20:58:04
The trade balance remained in the red during July, with a negative balance of US$649 million. The trade balance has been for five consecutive months, registering a foreign currency loss of US$5,142 million so far this year.
In this context, we communicate with Juan Carlos Sanchez Arnaueconomist, who spoke regarding the country’s economic context.
Trade balance and economic outlook
“There are several factors that combine to make it a weak year: the drought in the first instance, international prices are compressing a lot and imports are paralyzed due to lack of foreign currency”, explained Sánchez Arnau.
“Prices are putting pressure on costs due to the absence of importswe are in a scenario of recession with higher inflation”, said the economist, who later completed: “We are going to an inflation that can be up to 14% in August”.
Along the same lines, the interviewee said that we must expect more recession and inflation. “The stocks are the result of a set of wrong policies”snapped the expert in the field.
Finally, Sánchez Arnau said that we are using the IMF disbursements to pay the debt with the same multilateral organization. “Bank reserves are being used to finance maturities,” he concluded.
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