[SANITIZED]NATIONAL INTELLIGENCE DAILY CABLE THURSDAY JULY 8, 1976 - 1976/07/08

• Document Type: SPECIALCOLLECTION
• Collection: Argentina Declassification Project - The "Dirty War" (1976-83)
• Document Number (FOIA) /ESDN (CREST): 03004034
• Release Decision: RIPPUB
• Original Classification: U
• Document Page Count: 20
• Document Creation Date: April 3, 2019
• Document Release Date: April 12, 2019
• Publication Date: July 8, 1976

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bp-Secret
(Security Classification)
3.5(c)
3.5(c)
Access to this document will be restricted to
those approved for the following specific activities:
NATIONAL INTELLIGENCE DAILY CABLE
Thursday July 8, 1976 CI NIDC 76-159C
Warning Notice
Sensitive Intelligence Sources and Methods Involved
NATIONAL SECURITY INFORMATION
Unauthorized Disclosure Subject to Criminal Sanctions
Emma
(Security Classification
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0
3.5(c) 0
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3.5(c)
ARGENTINA
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Argentina's military government has checked the coun-
try'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 de-
mand. In particular, the regime will attempt to stimulate for-
eign and domestic investment.
As production begins to revive, the inflation rate is
likely to rise again. The junta's first concern will be to see
that inflation does not again get out of hand.
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