Argentina pledges to up infra spending 50%

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Monday, September 11, 2017

Argentina's government will increase infrastructure spending by 50% in real terms next year, interior and public works minister Marcos Peña said, claiming that the current administration is embarked upon the "most ambitious" public works program in the country's history.

This year, the government expects to spend the equivalent of 2.6% of GDP on infrastructure, of which 1.7% will be for public works financed by the national treasury while the remaining 0.9% corresponds to public-private partnerships (PPP), trust funds and others, Peña told the senate.

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For 2018, the government expects to increase spending to 3.5% of GDP, with 1.8% for PPPs, trust funds and others, according to a press release.

Of the total amount projected for next year, transport would receive 1.1% of GDP, water 0.4% and energy 1.1%.

PROJECTS ON THE AGENDA

Since taking office in 2015, President Mauricio Macri has bet on public works as a way to kick start the country's economy.

Some of the most important projects on his government agenda are: