Argentina has been riding the waves of economic advancement since 2000. With a GDP or at least 8.5% a year during this time frame, it is certainly on the road to become a powerhouse economy not only in South America but worldwide.
But this number went down significantly this year. Argentina has only posted 7.0% in GDP this year and most business analysts inside and outside Argentina agree that this might even go further in 2009 because of the global economic problems. Argentina is currently the second biggest economy in South America. Brazil holds the title of having the biggest economy in the South America and 10th in world ranking.
To address this problem, the government has unveiled a stimulus plan that will largely help tourism, import and export. Everyone will practically be benefiting on the 13.2 Billion Pesos in stimulus plan declared by the government. Aside from the stimulus package, tax cuts are being implemented in certain products for exportation which will ease losses for entrepreneurs.
The government is very keen in pushing for its locals to travel. The government has announced that they will be offering interest free loans for individuals and families who are opting to travel in the upcoming months. Payment terms will be generally set for three or six months. Small businesses that are in the travel industry will also be able to avail of this interest-free loan with the same payment terms. Hopefully, this plan will encourage a lot of Argentineans to go out and travel to different parts of their country to boost the economy.