[SANITIZED]NATIONAL INTELLIGENCE DAILY SATURDAY JULY 10, 1976 - 1976/07/10

• Document Type: SPECIALCOLLECTION
• Collection: Argentina Declassification Project - The "Dirty War" (1976-83)
• Document Number (FOIA) /ESDN (CREST): 03004025
• Release Decision: RIPPUB
• Original Classification: U
• Document Page Count: 4
• Document Creation Date: April 3, 2019
• Document Release Date: April 12, 2019
• Publication Date: July 10, 1976

Approved for Release: 2018/10/02 003004025
The
National Intelligence
Daily
3.5(c)
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Published by the Director of Central Intelligence for Named Principals Only Copy No.
3.5(c)
SATURDAY JULY 10, 1976
VOLUME 3, NUMBER 161
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3.5(c)
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SATURDAY JULY 10, 1976
WILMENHEMENEMEMIS
THE NATIONAL INTELLIGENCE DAILY
"RE
MISEVEL,
Argentina: Inflation, Recession
Argentina's military government has
checked the country's runaway inflation,
but at the expense of deepening the
economic recession.
More than 60,000 government
employees have been fired as part of the
government plan to reduce the budget
deficit by 75 percent in 1976. The monthly
inflation rate dropped from 38 percent in
March to under 3 percent in June, chiefly
as a result of restraints on wages and cuts
in government spending.
Real wages, which peaked a year ago,
are now at their lowest point in over a
decade. With 1960 as the base year at 100,
real wages last month dropped to 63,
compared with 210 for June 1975.
Economy Minister Martinez de Hoz has
permitted only one 15-percent wage hike
since the junta came to power, while
prices nearly doubled before inflation was
checked.
The government will now try to expand
purchasing power cautiously since
businessmen are complaining of declining
demand. In particular, the regime will
attempt to stimulate foreign and domestic
investment.
As production begins to revive, the in-
flation rate is likely to rise again. The jun-
ta's first concern will be to see that infla-
tion does not again get out of hand.
SESSERSONSIMMEEMEIMISENNE
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