Some polls start to show Macri losing the presidential election

ARGENTINA - Report 16 Apr 2019 by Esteban Fernandez Medrano

In our recent report “Struggling with Stagflation” we pointed out that the current administration is facing the difficult political challenge of overcoming a severe recession, with little time for the economy to bounce before the elections - or put differently, with only a short time for the voter to sense the benefits of more balanced external, monetary and fiscal accounts. On the contrary, for the time being, voters instead perceive the combined drop in real wages and employment that in 4Q18 created the worst loss in real labor income since 2002, as well as poverty indices that are undoing the improvements seen in the previous two years.

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