Moody's says slower deficit cuts will not block Argentina upgrade

Source: Reuters
By: Luc Cohen
09.30.2016

A slower reduction in Argentina's deficit than initially promised by President Mauricio Macri's government does not impede a credit upgrade in Argentina, Moody's senior analyst Mauro Leos said in an interview on Thursday.

The government said earlier this month Argentina would register a 2017 fiscal deficit equivalent to 4.2 percent of gross domestic product, higher than the 3.3 percent promised in January but lower than its expected 4.8 percent gap in 2016.

Moody's forecasts the deficit will actually be 5 percent of GDP next year.

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