When Argentina’s petrol prices go up, we’re all screwed
We’re all doomed.
We’ve all lost.
In the weeks leading up to the March 2 OPEC meeting, we were told that prices would drop from a record $1.9 trillion in June to $1 trillion in March.
As of March 2, prices had risen by 2.5% from June, to $3.8 trillion, according to Reuters data.
It was the biggest monthly rise since June 2013, when the price of petrol was already at $2.3 trillion.
“Prices will drop from $1,9 trillion to $2 trillion,” OPEC president Mohammed Barkati said in an interview with Reuters.
“We’ll see the price rise again in April.”
But if prices don’t rise, how will people spend their money?
That’s where Argentina’s oil-rich country comes in.
In January, Argentina’s economy was booming, with the country’s gross domestic product (GDP) growing by almost 20% in 2015.
But that was a year after the OPEC agreement was signed.
Now, the economy has contracted by almost 10% in the last two years, while inflation has doubled to more than 5%.
Argentina’s currency, the peso, has also fallen by almost 50% since it was pegged to the dollar in the early 1990s.
Oil has also plummeted.
A recent Reuters poll found that only 10% of Argentines still have access to electricity, a figure that has doubled since the deal was signed in June.
With inflation so high, Argentina now imports more oil than it exports, meaning that prices have fallen by more than half.
Argentina’s government has been trying to convince the public that the country is in better shape than it was a decade ago.
The president of the national oil company, Rafael Esquivel, has made the same argument, saying that by 2019, the country will be exporting a record number of barrels of oil per day.
The country has a debt of about $1 billion, according the IMF.
And it has a budget deficit of $1bn per year.
But the Argentine economy has suffered, and now Argentina’s debt is growing by 10%.
The country’s foreign debt is estimated at $11 billion.
Inflation has also soared, from 6% to 14%.
So what does Argentina do to address the problem?
The country is going to need more revenue, but the government isn’t ready to announce a new tax on the rich.
Instead, it is proposing a tax on oil-related transactions.
In addition, the government is introducing a “market tax” that will be used to subsidize the purchase of basic necessities like gasoline, oil, electricity and groceries.
As the Economist put it, “A tax on petrol prices would not only provide relief to the poor but would also encourage more economic activity, boosting consumer spending.”
And in the process, it would also boost Argentina’s exports.
In March, the International Monetary Fund warned that Argentina’s budget deficit could reach 3% of GDP in 2019.
That would put it in the same category as countries like Argentina, Greece and Mexico, which all have massive deficits.
And the IMF has called the economic impact of the tax a “disaster for the Argentine people”.
But the IMF isn’t the only authority that thinks that the tax will be a success.
In fact, the World Bank recently praised the tax for reducing poverty and inequality, and for helping to prevent the country from falling into a deep recession.
As a result, Argentina is looking at the tax as a “win-win” for the government and the people.
So what can we expect from Argentina’s new tax?
The new tax will affect the vast majority of Argentinos.
The government is looking to use the tax to raise $4.2 billion a year to subsidise essential services like schools, healthcare, education and pensions.
The taxes will be paid in cash, and will be applied in stages.
Argentina plans to collect more than 60% of the $4 billion, and the government has already promised that the first two years will be “a very difficult and long one”.
The first tax will apply to individuals, but there will be an additional tax for businesses.
There will also be a special levy on the wealthy, which will be raised by the government.
Argentina is hoping that this will encourage businesses to hire more people.
Argentina has a huge amount of untapped oil reserves, but it’s unclear how the tax would affect those reserves.
The new taxes will take effect in 2019, but not before the new tax is implemented.
If the government doesn’t meet its goal of $4,000 per person a year, the next tax will come into effect in 2020.
If it meets its goal, the new taxes could generate a massive $30 billion a month in revenue for the country.
But it could also be disastrous for Argentina’s finances.
If oil prices don´t fall, Argentina could have a