Argentina’s Tax Revenue on Rise

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Most likely due to a surge in exports of fuel and grains, Argentina’s tax revenue rose 38 percent to 24.3 billion pesos ($7.3 billion) in October, the second highest level ever.  This information comes at a time when most economists were predicting a recession.  Auto production slowed 7.7 percent in October, after the onset of the global financial crisis.  Argentine officials, however, remain hopeful.  Claudio Moroni, head of Argentina’s tax agency, told reporters “We are still seeing a strong level of economic activity and tax collection.”  And Interior Minister Florencio Randazzo was quoted as saying “We’re optimistic about the future of Argentina.  We’re more optimistic than ever.”  The monthly budget has yet to be released.

Via: Bloomberg

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