[SANITIZED]WEEKLY SUMMARY JULY 16, 1976 - 1976/07/16

• Document Type: SPECIALCOLLECTION
• Collection: Argentina Declassification Project - The "Dirty War" (1976-83)
• Document Number (FOIA) /ESDN (CREST): 03004436
• Release Decision: RIPPUB
• Original Classification: U
• Document Page Count: 26
• Document Creation Date: April 3, 2019
• Document Release Date: April 12, 2019
• Publication Date: July 16, 1976

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Weekly Summary
� et
CI WS 76-029
No. 0029/76
July 16, 1976
N2 1423
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EEKLY SUMMARY, issued every Frido mina by the
rent Intelligence, reports and a yzes
cant deve;opments of the week through noon o Thursday. It
frequently includes material coo' dinated with or prepared
by the Office of Economic Research, the Office of Strategic
Research, the Office of Geographic and Cartographic
Research, and the Directorate or Sc,ence and Technology
Seri
3.5(c)
'Norning N
ence Sources
(WNINTEL)
NAT ONAL SECURITY IN TION
Uncluthorized Disclosure Subiect to Cri
Son ions
CONTENTS
S"...7fr61"
July 16, 1976
MIGNEMINMEM
8 Western Hemisphere
Argentina
Comments and queries on the contents of this
publication are welcome. They may be
directed to the editor of thP Weekly
Summary,
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"Eeitz
ARGENTINA
Argentina's military military government has
checked the country's runaway inflation,
but at the expense of deepening the
economic recession.
The monthly inflation rate dropped
from 38 percent in March to under 3 per-
cent in June, chiefly as a result of
restraints on wages and cuts in govern-
ment spending. More than 60,000 govern-
ment employees have been fired as part of
the government plan to reduce the budget
deficit by 75 percent in 1976.
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.
Businessmen are beginning to complain
of declining demand, and the government
will now try to expand purchasing power
but at a measured pace. 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-
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ta's first concern will be to see that infla-
tion does not again get out of hand.
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