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Financial News: ARGENTINA: Opposition Calls For Freezing Of Public Service

ARGENTINA: Opposition Calls For Freezing Of Public Service Tariffs

04/18/2018 - 16:37:00 (RTTNews)

(RTTNews) - The opposition to Mauricio Macri's administration in Argentina requested an extraordinary session in the House of Representatives to discuss the increase of public service tariffs, but the lower house speaker Emilio Monzi closed the session when only one lawmaker was remaining to reach the minimum quorum. The opposition, which seeks the review and freezing of some tariffs, accused ruling lawmakers of maneuvering to avoid debate on the issue.

The increase in tariffs and prices of public services in Argentina was pointed out by the country's central bank as the justification for the acceleration of inflation earlier this year. After slowing down to 22.4% per year in November 2017, the annual inflation rate in the South American country gained strength and reached 25.4% in February, remaining at the same level in March.

The government claims that there should be "pronounced deceleration" of consumer price inflation as of May and that the target of 15% for this year should be reached. "We are going in the right direction. The effort of society will not be in vain," said the head of the Cabinet of Ministers, Marcos Pera, in an interview with local radio station.

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