{"id":10662,"date":"2025-12-07T12:03:54","date_gmt":"2025-12-07T15:03:54","guid":{"rendered":"https:\/\/hanin.org.ar\/?p=10662"},"modified":"2025-12-07T12:03:56","modified_gmt":"2025-12-07T15:03:56","slug":"%ea%b2%bd%ec%a0%9c-%ec%86%8c%ec%8b%9d-%ec%a3%bc%ea%b0%84-%eb%b3%b4%ea%b3%a0%ec%84%9c-17","status":"publish","type":"post","link":"https:\/\/hanin.org.ar\/?p=10662","title":{"rendered":"[\uacbd\uc81c \uc18c\uc2dd] \uc8fc\uac04 \ubcf4\uace0\uc11c"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"294\" height=\"171\" src=\"https:\/\/hanin.org.ar\/wp-content\/uploads\/2025\/12\/images.jpg\" alt=\"\" class=\"wp-image-10663\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\ubc34\ub4dc\uc758 \uc0c1\ub2e8\uacfc \uc138\uc785\uc758 \ubc14\ub2e5 \uc0ac\uc774\uc5d0\uc11c<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\uce74\ud478\ud1a0 \uc7a5\uad00\uc740 \ucd5c\uadfc \uacbd\uc81c \uacc4\ud68d\uc758 \uac00\uc7a5 \ud070 \uc57d\uc810 \uc911 \ud558\ub098\uc778 \uc678\ud658\ubcf4\uc720\uc561 \ucd95\uc801 \ubb38\uc81c\uc5d0 \ub300\ud55c \uc790\uc2e0\uc758 \uacac\ud574\ub97c \ubc1d\ud614\ub2e4.<br>\uc774 \ubc1c\uc5b8\uc740 Bopreal 2026 \ucc44\uad8c\uc758 \uccab \ubc88\uc9f8 \uc6d0\uae08 \uc0c1\ud658\uc774 \uc774\ub8e8\uc5b4\uc9c4 \uc9c1\ud6c4 \ub098\uc628 \uac83\uc73c\ub85c, \uadf8 \uacb0\uacfc \uc21c\uc678\ud658\ubcf4\uc720\uc561\uc740 \ub2e4\uc2dc \ub9c8\uc774\ub108\uc2a4 \uc601\uc5ed\uc73c\ub85c \ub3cc\uc544\uac00 \ud604\uc7ac \u20134\uc5b57,600\ub9cc \ub2ec\ub7ec \uc218\uc900\uc5d0 \uba38\ubb3c\ub7ec \uc788\ub2e4.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\uad6d\uc81c\uc900\ube44\uae08 (\ubc31\ub9cc \ub2ec\ub7ec)<br>\ucd1d\uc900\ube44\uae08 41,776<br>\uc9c0\uae09\uc900\ube44\uae08 18,066<br>\uc911\uad6d \uc2a4\uc651 18,380<br>\ubbf8\uad6d \uc2a4\uc651 2,511<br>\uae30\ud0c0 \ubd80\ucc44 3,295<br>\uc21c\uc900\ube44\uae08 \u2013476<br>\uc815\ubd80\uc758 USD \uc608\uce58\uae08 108<br>Bopreal 1\ub144\ubb3c 2,308<br>\uc21c\uc678\ud658\ubcf4\uc720\uc561 \u20132,892<br>\ucd9c\ucc98: Vectorial, BCRA \uc790\ub8cc \uae30\ubc18.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\uc0c1\ud669\uc740 \ub9e4\uc6b0 \uc2ec\uac01\ud558\ub2e4.<br>1\uc6d4\uc5d0 \uc608\uc815\ub41c \uad6d\ucc44 \uc0c1\ud658\uc561\uc774 \uc57d 42\uc5b5 \ub2ec\ub7ec\uc5d0 \ub2ec\ud558\ub294 \ubc18\uba74, \uad6d\uace0 \uc608\uce58\uae08\uc740 \uaca8\uc6b0 1\uc5b5800\ub9cc \ub2ec\ub7ec\uc5d0 \ubd88\uacfc\ud558\ub2e4.<br>\uc21c\uc900\ube44\uae08\uc774 \ub9c8\uc774\ub108\uc2a4\ub77c\ub294 \uac83\uc740, \ub9cc\uc57d BCRA\uac00 \uc0c1\ud658\uc5d0 \ub098\uc120\ub2e4\uba74 \uc774\ub294 \uad6d\ub0b4 \uc608\uae08\uc790\ub4e4\uc758 \uc790\uae08(\ucc44\uad8c\uc790\ub4e4\uc758 \uc790\uc6d0) \uc744 \uc0ac\uc6a9\ud558\ub294 \uc148\uc774 \ub41c\ub2e4.<br>\uadf8\ub7fc\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 \uad6d\uac00\uc704\ud5d8\ub3c4\ub294 650bp \uc218\uc900\uc744 \uc720\uc9c0\ud558\uace0 \uc788\ub2e4.<br>\uc774\ub294 \uc2dc\uc7a5\uc774 \uc815\ubd80\uac00 \ubd80\uc815\uc801\uc778 \uc21c\uc678\ud658\ubcf4\uc720\uc561 \uc0c1\ud669\uc744 \uc720\uc9c0\ud558\ub354\ub77c\ub3c4, \ubbf8\uad6d\uacfc\uc758 \uc2a4\uc651\uc744 \ub354 \ub9ce\uc774 \ud65c\uc131\ud654\ud558\uac70\ub098 \uc21c\uc678\ud658\ubcf4\uc720\uc561\uc744 \uac1c\uc120\ud560 \uc218 \uc788\uc744 \uac83\uc774\ub77c \uae30\ub300\ud558\uae30 \ub54c\ubb38\uc774\ub2e4.<br>\uac00\uc7a5 \uc774\uc0c1\uc801\uc778 \ubc29\ubc95\uc740 \uc790\ubcf8\uc2dc\uc7a5\uc744 \ud1b5\ud55c roll-over(\ub9cc\uae30\uc5f0\uc7a5) \ub97c \uc131\uc0ac\uc2dc\ud0a4\uac70\ub098, \ub2ec\ub7ec \ud45c\uc2dc\uac00 \uc544\ub2cc 2029\ub144 \ub9cc\uae30 \ucc44\uad8c \ubc1c\ud589(\ub2f9\uc77c \uc544\uce68 \ubc1c\ud45c) \ub610\ub294 \uad6d\uc81c \uc740\ud589\ub4e4\uacfc\uc758 \ub808\ud3ec(repo, \ud658\ub9e4\uc870\uac74\ubd80\ucc44\uad8c) \uacc4\uc57d\uc73c\ub85c \uc790\uae08\uc744 \uc870\ub2ec\ud558\ub294 \uac83\uc774\ub2e4.<br>\uc774\uc5d0 \ub300\ud574 \uce74\ud478\ud1a0 \uc7a5\uad00\uc740 \u201c\ud604\uc7ac 60\uc5b5~70\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8\uc758 \uc81c\uc548\uc744 \ubc1b\uc558\uc73c\uba70, \ucd94\ud6c4 \uc5bc\ub9c8\ub97c \uc218\uc6a9\ud560\uc9c0 \uacb0\uc815\ud558\uaca0\ub2e4\u201d \uace0 \ub9d0\ud588\ub2e4.<br>\uc774\ub7ec\ud55c \uc2e0\uc911\ud55c \ubc1c\uc5b8\uc740 \ud55c \ub2ec \uc804 \u201c200\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8\uc758 \uc2e0\uc6a9\ub77c\uc778\uc744 \ud655\ubcf4\ud588\ub2e4\u201d \uace0 \uc8fc\uc7a5\ud588\ub358 \uac19\uc740 \uc7a5\uad00\uc758 \ud0dc\ub3c4\uc640 \ub300\ube44\ub41c\ub2e4.<br>\uc774\uc81c \uadf8\ub294 \uadf8 \ubc1c\uc5b8\uc744 \u201c\uc5b8\ub860\uc6a9 \ubc1c\uc5b8\u201d \uc774\ub77c\uace0 \ud45c\ud604\ud588\ub2e4.<br>\ud658\uc728\uc740 \uc5ec\uc804\ud788 \uc2e0\uc911\ud55c \uc218\uc900\uc5d0\uc11c \uc720\uc9c0\ub418\uace0 \uc788\uc9c0\ub9cc, \uc0c1\ub2e8 \ubc34\ub4dc\ub97c \ub2e4\uc2dc \ud14c\uc2a4\ud2b8\ud560 \uc704\ud5d8\uc774 \uc788\ub2e4.<br>\uc774\ub7f0 \uc0c1\ud669\uc5d0\uc11c \uc815\ubd80\uc758 \uc804\ub7b5\uc740 \uc704\ud5d8\ud560 \uc218 \uc788\ub2e4:<br>\u201c\ub9cc\uc57d BCRA\uac00 \ud658\uc728 \uc0c1\ub2e8\uc5d0\uc11c \ub2ec\ub7ec\ub97c \ud314\uc544\uc57c \ud558\ub294 \uc0c1\ud669\uc5d0 \ub193\uc778\ub2e4\uba74, \uadf8\ub9ac\uace0 1\uc6d4 \uc0c1\ud658 \uc790\uae08\uc744 \uad6d\uace0\uac00 \uc544\uc9c1 \ud655\ubcf4\ud558\uc9c0 \ubabb\ud588\ub2e4\uba74 \uc2dc\uc7a5\uc5d0 \uc5b4\ub5a4 \uc601\ud5a5\uc774 \uc0dd\uae38\uae4c?\u201d<br>\uc774\uc640 \uad00\ub828\ud574 \uce74\ud478\ud1a0 \uc7a5\uad00\uc740 \ub0b4\ub144\uc5d0 \uc2dc\uc7a5 \uc720\ub3d9\uc131\uacfc \uc678\ud658\uc2dc\uc7a5 \uae4a\uc774\uc5d0 \ub530\ub77c \ub2ec\ub7ec\ub97c \ub9e4\uc785\ud558\uaca0\ub2e4\uace0 \ubc1d\ud614\ub2e4.<br>\uc774\ub294 \uc0ac\uc2e4\uc0c1 \uc790\uc720\uc2dc\uc7a5\uc5d0\uc11c \ub2ec\ub7ec\ub97c \uad6c\ub9e4\ud558\uaca0\ub2e4\ub294 \uc758\ubbf8\uc774\ub2e4.<br>\uadf8\ub294 \ud654\ud3d0 \uc218\uc694\uc5d0 \ub300\ud55c \ub17c\uac70\ub85c \uc774\ub807\uac8c \uc124\uba85\ud588\ub2e4.<br>\ub0b4\ub144\uc5d0\ub294 \uba85\ubaa9 GDP\uac00 25% \uc99d\uac00(\uc2e4\uc9c8 4% + \ud3c9\uade0 \uc778\ud50c\ub808\uc774\uc158 20%)\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub418\uba70, \uc774\ub294 1\uc870 \ud398\uc18c(\uc57d 70\uc5b5 \ub2ec\ub7ec) \uc758 \ucd94\uac00 \ud654\ud3d0 \uc218\uc694\ub97c \uc758\ubbf8\ud55c\ub2e4.<br>\ub9cc\uc57d \ud654\ud3d0 \uae30\ubc18\uc774 GDP \ub300\ube44\ub85c \ub298\uc5b4\ub09c\ub2e4\uba74(\ud1b5\ud654 \uc2e0\ub8b0 \ud68c\ubcf5\uc73c\ub85c \uc778\ud55c \uc7ac\ud654\ud3d0\ud654), \uadf8 \uaddc\ubaa8\ub294 3\uc870 \ud398\uc18c(\uc57d 210\uc5b5 \ub2ec\ub7ec) \uae4c\uc9c0 \uc99d\uac00\ud560 \uc218 \uc788\ub2e4.<br>\ud558\uc9c0\ub9cc \uc774\ub7ec\ud55c \uacc4\uc0b0\uc740 \ud604\uc2e4\uacfc \ucda9\ub3cc\ud55c\ub2e4.<br>\ud604\uc7ac\uae4c\uc9c0\uc758 \uacbd\uc81c\uc758 \uc7ac\ud654\ud3d0\ud654\ub294 \ub2ec\ub7ec \ud310\ub9e4\uac00 \uc544\ub2c8\ub77c, \uacf5\uacf5\ucc44\uad8c \ud574\uccb4\ub97c \ud1b5\ud574 \uc774\ub8e8\uc5b4\uc9c0\uace0 \uc788\ub2e4.<br>\uc774\ub85c\uc778\ud574 \uad6d\uace0\uc758 \ud604\uae08 \ubcf4\uc720\uc561\uc744 \uc0c1\ub2f9\ud788 \uc904\uc600\ub2e4.<br>\uc989, \uc2dc\uc7a5 \ucc38\uc5ec\uc790\ub4e4\uc774 \ub2ec\ub7ec\ub97c \ud314\uae30\ubcf4\ub2e4 \ucc44\uad8c\uc774\ub098 \uc790\uc0b0\uc744 \uc720\uc9c0\ud558\ub824\ub294 \uc774\uc720\ub294 \ud658\uc728\ubcf4\ub2e4 \ub192\uc740 \uc774\uc790\uc728 \ub54c\ubb38\uc774\ub2e4.<br>\ub530\ub77c\uc11c \ud604\uc7ac\uc758 \ud658\uc728 \uc218\uc900\uc740 \ub2ec\ub7ec \ub9e4\ub3c4\ub97c \ud1b5\ud55c \uc7ac\ud654\ud3d0\ud654 \ub97c \uc720\ub3c4\ud558\uae30\uc5d0\ub294 \ubd80\uc871\ud558\ub2e4\ub294 \uac83\uc774\ub2e4.<br>\uc774 \ubc29\uc815\uc2dd\uc744 \ubc14\uafc0 \uc218 \uc788\ub294 \uac83\uc740 \ub2ec\ub7ec \ucd08\uacfc\uacf5\uae09, \uc989 \uc678\ud658\uc2dc\uc7a5\uc758 \uae4a\uc774 \ud655\ub300\uc774\ub2e4.<br>\uce74\ud478\ud1a0\ub294 \uc774\ub97c \uae08\uc735\uacc4\uc815\uc744 \ud1b5\ud55c \uc790\uae08 \uc720\uc785\uc73c\ub85c \uc608\uc0c1\ud558\uc9c0\ub9cc, \uc62c\ud574\uc758 \uc678\ud658\uc2dc\uc7a5 \ub370\uc774\ud130\ub294 \ubc18\ub300 \uc99d\uac70\ub97c \uc81c\uc2dc\ud55c\ub2e4.<br>10\uc6d4\uc758 \uc678\ud658\uc218\uc9c0\ub294 \uc5ec\uc804\ud788 \uc138 \uac00\uc9c0 \uad6c\uc870\uc801 \ubb38\uc81c\ub97c \ub4dc\ub7ec\ub0c8\ub2e4:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>\uacbd\uc0c1\uc218\uc9c0 \uc801\uc790,<\/li>\n\n\n\n<li>\ubbfc\uac04\ubd80\ubb38\uc758 \ud574\uc678\uc790\uc0b0 \ud615\uc131 \ud655\ub300,<\/li>\n\n\n\n<li>\uad6d\uc81c\uc678\ud658\ubcf4\uc720\uc561 \uc545\ud654.<br>10\uc6d4 \ud55c \ub2ec\uc758 \uacbd\uc0c1\uc218\uc9c0 \uc801\uc790\ub294 \u201325\uc5b59,900\ub9cc \ub2ec\ub7ec\ub85c, 2017\ub144 11\uc6d4 \uc774\ud6c4 \ucd5c\uc545\uc758 \uae30\ub85d\uc774\ub2e4.<br>\uc774\ub294 \uc218\uc785 \uc99d\uac00\uc640 \uc11c\ube44\uc2a4\uc218\uc9c0 \uc801\uc790(\u201310\uc5b5 \ub2ec\ub7ec) \ubc0f \uc774\uc790\uc9c0\uae09 \uc99d\uac00\uac00 \uacb0\ud569\ub41c \uacb0\uacfc\ub2e4.<br>\ub610\ud55c, 9\uc6d4\uc5d0 \ub18d\uc0b0\ubb3c \uc870\uae30\uc218\ucd9c\ub85c \uc778\ud574 10\uc6d4 \uc218\ucd9c \uc218\uc785\uc774 \uac10\uc18c\ud558\uba74\uc11c, \uc62c\ud574 10\uac1c\uc6d4 \ub204\uc801 \uacbd\uc0c1\uc218\uc9c0 \uc801\uc790\ub294 \uc57d \u201358\uc5b5 \ub2ec\ub7ec(-0.8%\uc758 GDP) \ub85c \ucd94\uc815\ub41c\ub2e4.<br>\uc11c\ube44\uc2a4\uc218\uc9c0 \uce21\uba74\uc5d0\uc11c \uad00\uad11 \ud56d\ubaa9\uc740 \ub0ae\uc740 \uacc4\uc808\uc131 \ub355\ubd84\uc5d0 \uc0c1\ub300\uc801\uc73c\ub85c \ub0ae\uc740 \uc801\uc790\ub97c \ubcf4\uc600\uc9c0\ub9cc, \uc9c0\uc801\uc7ac\uc0b0\uad8c, \uc6b4\uc1a1\ube44, \uc804\ubb38 \uc11c\ube44\uc2a4 \ub4f1 \ub2e4\ub978 \ubd80\ubb38 \uc801\uc790\uac00 \ud655\ub300\ub418\uc5c8\ub2e4.<br>\uae08\uc735\uacc4\uc815\uc5d0\uc11c\ub294 11\uc5b58,400\ub9cc \ub2ec\ub7ec\uc758 \ud751\uc790\ub97c \uae30\ub85d\ud588\ub294\ub370, \uc774\ub294 \ube44\uac70\uc8fc\uc790 \ud22c\uc790\uc790 \uc720\uc785 19\uc5b5 \ub2ec\ub7ec,<br>OOI(\uae30\ud0c0 \uacf5\uc2dd \ud22c\uc790) \uc21c\uc720\uc785 5\uc5b5 \ub2ec\ub7ec,<br>\uae30\uc5c5\ub300\ucd9c 5\uc5b5 \ub2ec\ub7ec,<br>\uc678\ud658\uac70\ub798 \ub4f1 \uae30\ud0c0 \ud56d\ubaa9 \ub4f1\uc73c\ub85c \uad6c\uc131\ub418\uc5c8\ub2e4.<br>\uadf8\ub7ec\ub098 \uc5f0\uac04 \ub204\uc801 \uae08\uc735\uacc4\uc815\uc740 61\uc5b5 \ub2ec\ub7ec \ud751\uc790\ub85c \ubcf4\uc774\uc9c0\ub9cc, \uc774\ub294 \ubbf8\uad6d \ubc0f IMF \uc790\uae08 \uc758\uc874\uc801\uc774\ub2e4.<br>\uc774 \uc9c0\uc6d0\uc744 \uc81c\uc678\ud558\uba74, \uc2e4\uc81c\ub85c\ub294 \u201399\uc5b5 \ub2ec\ub7ec(-1.4%\uc758 GDP) \uc758 \uc21c\uc720\ucd9c\uc774 \ub41c\ub2e4.<br>\ube44\uae08\uc735 \ubbfc\uac04\ubd80\ubb38\uc758 \ud574\uc678\uc790\uc0b0 \ud615\uc131\uc740 \uc5ec\uc804\ud788 \uc8fc\uc694 \uc694\uc778\uc73c\ub85c, \ud658\uc728 \uaddc\uc81c \uc774\ud6c4 \ub204\uc801 \u2013299\uc5b5 \ub2ec\ub7ec\uc5d0 \ub2ec\ud55c\ub2e4.<br>\uc774\ub294 GDP\uc758 7.2%\ub85c, \ub9c8\ud06c\ub9ac \uc815\ubd80(2018) \uc758 \ucd5c\uc545\uc758 \uc2dc\uae30\ubcf4\ub2e4\ub3c4 \uc2ec\uac01\ud558\ub2e4.<br>\uc815\ubd80\ub294 2026\ub144\uae4c\uc9c0 70\uc5b5~210\uc5b5 \ub2ec\ub7ec\ub97c \ucd95\uc801\ud574\uc57c \ud558\uba70, \uc774\ub97c \uc704\ud574 \uae08\uc735\uacc4\uc815\uc774 \ud604\uc7ac\uc758 \uc801\uc790\ub97c \ubc18\uc804\uc2dc\ucf1c GDP\uc758 2~4% \ud751\uc790\ub85c \ub3cc\uc544\uc11c\uc57c \ud55c\ub2e4.<br>\uc774\ub97c \uc704\ud574\uc11c\ub294 \uc0ac\ud68c\uc801 \uc2e0\ub8b0 \ud68c\ubcf5\uacfc \ub300\uaddc\ubaa8 \uc678\uad6d\uc778 \ud22c\uc790 \uc720\uc785\uc774 \ud544\uc218\uc801\uc774\uc9c0\ub9cc, \ub2e8\uae30\uac04\uc5d0 \uc2e4\ud604\ud558\uae30\ub294 \uc5b4\ub835\ub2e4.<br>\uc7ac\uc815 \uce21\uba74\uc5d0\uc11c\ub3c4 \ubb38\uc81c\uac00 \uc2ec\ud654\ub418\uace0 \uc788\ub2e4.<br>ARCA(\uc138\uae08\uad00\uc138\uad00\ub9ac\uccad)\uc758 \ubc1c\ud45c\uc5d0 \ub530\ub974\uba74 11\uc6d4 \uc138\uc785\uc740 \uc2e4\uc9c8 \uae30\uc900 \u20138.7% \uac10\uc18c\ud558\uc5ec, 2025\ub144 \ub4e4\uc5b4 \ub2e4\uc12f \ubc88\uc9f8(\uc5f0\uc18d \ub124 \ubc88\uc9f8) \ud558\ub77d\uc744 \uae30\ub85d\ud588\ub2e4.<br>\uc774\ub294 2024\ub144 11\uc6d4\uc758 \uc77c\ud68c\uc131 \ucd08\uacfc\uc218\uc785 \ud6a8\uacfc\uac00 \uc0ac\ub77c\uc84c\uae30 \ub54c\ubb38\uc774\ub2e4.<br>11\uc6d4 2025\ub144\uc758 \uc2e4\uc9c8 \uc138\uc785\uc740 15.6\uc870 \ud398\uc18c\ub85c, 2017\ub144 \uc774\ud6c4 \ucd5c\uc800 \uc218\uc900\uc774\uba70, \uc9c0\ub09c 9\ub144 \ud3c9\uade0(17.1\uc870)\ubcf4\ub2e4\ub3c4\ub0ae\uace0, 2020\ub144(17.2\uc870)\u00b72023\ub144(16.3\uc870)\ubcf4\ub2e4\ub3c4 \uc545\ud654\ub418\uc5c8\ub2e4.<br>\uc774\ub294 \uc815\ubd80\uc758 \uc138\uc785\uc5ec\ub825 \ucd95\uc18c\ub85c \uc778\ud574 \uc9c0\ucd9c \uc0ad\uac10 \uc555\ubc15\uc774 \ucee4\uc84c\uc74c\uc744 \uc758\ubbf8\ud55c\ub2e4.<br>\ud2b9\ud788, \uc218\uc785\uad00\uc138\ub9cc \uc720\uc77c\ud558\uac8c +21.7%\uc758 \uc2e4\uc9c8 \uc99d\uac00\ub97c \ubcf4\uc600\ub2e4.<br>\uc774\ub294 \ud658\uc728 \uc0c1\uc2b9\uacfc \uc218\uc785\ub7c9 \uc99d\uac00 \ub355\ubd84\uc774\uba70, \uacbd\uae30 \ud68c\ubcf5 \uad6d\uba74\uc758 \uc678\ubd80 \uad6c\ub9e4 \ud655\ub300\ub85c \uc124\uba85\ub41c\ub2e4.<br>\ubc18\uba74,<br>\uc218\ucd9c\uad00\uc138 \u201369%,<br>\uac1c\uc778\uc790\uc0b0\uc138 \u201363.9%,<br>\uae08\uc735\uac70\ub798\uc138 \u20135.1%,<br>\ubc95\uc778\uc138 \u20132.7%,<br>\ubd80\uac00\uac00\uce58\uc138(IVA) \u20132.5%,<br>\uc0ac\ud68c\ubcf4\uc7a5\uc138 \u20131.0%<br>\ub85c \ub300\ubd80\ubd84\uc758 \ud56d\ubaa9\uc774 \uc2e4\uc9c8 \uac10\uc18c\ud588\ub2e4.<br>\uc774 \uc911 IVA(\ubd80\uac00\uac00\uce58\uc138)\uc758 \uc2e4\uc9c8 \uac10\uc18c(\u20132.5%) \ub294 \ub0b4\uc218 \ubc0f \uc18c\ube44 \uae30\ubc18 \uc57d\ud654\ub97c \ubcf4\uc5ec\uc8fc\ub294 \uc911\uc694\ud55c \uacbd\uace0 \uc2e0\ud638\ub2e4.<br>\uc0ac\ud68c\ubcf4\uc7a5\uae30\uae08\uc758 \u20131.0% \uac10\uc18c \ub610\ud55c \uc6b0\ub824\uc2a4\ub7ec\uc6b4\ub370, \uc774\ub294 \uc804\ub144\ub3c4 \uc720\uc608\uae08 \ub0a9\uc785 \uc885\ub8cc\ub85c \uc778\ud55c \ud6a8\uacfc \uc18c\uba78 \ub54c\ubb38\uc774\ub2e4.<br>\uc774\uc5d0 \ubc18\ud574 \uc218\uc785\uc138 \ubc0f \uae30\ud0c0 \ud56d\ubaa9\uc740 +21.7% \uc99d\uac00\ub85c \uc720\uc77c\ud558\uac8c \uac15\ud55c \uc131\uc7a5\uc138\ub97c \ubcf4\uc600\ub2e4.<br>\uc774\ub294 \ud658\uc728 \uc0c1\uc2b9\uacfc \uc218\uc785\ub7c9 \ud68c\ubcf5\uc5d0 \ub530\ub978 \uacb0\uacfc\uc774\ub2e4.<br>\uadf8\ub7ec\ub098 \uc774 \uc790\uae08\uc758 \ubc30\ubd84\uc5d0\uc11c\ub3c4 \uad6d\uac00\uc815\ubd80\uc758 \uc2e4\uc9c8 \uc138\uc785\uc740 \u201313.6% \uac10\uc18c, \uc8fc\uc815\ubd80\ub294 \u20133.8% \uac10\uc18c\ud558\uc5ec, \uc804\uccb4\uc801\uc73c\ub85c \uc7ac\uc815 \uc5ec\uac74\uc758 \uae09\uc18d\ud55c \uc545\ud654\ub97c \ubcf4\uc5ec\uc900\ub2e4.<br>\uc774\ub294 8\uc6d4 \uc774\ud6c4 \ub124 \ubc88\uc9f8 \uc5f0\uc18d \ud558\ub77d\uc73c\ub85c, \uc62c\ud574 \ucd5c\uc545\uc758 \uacb0\uacfc\ub2e4.<br>\uc774\ub85c \uc778\ud574 \uc911\uc559\uc815\ubd80\ub294 \uc5f0\ub9d0 \uc7ac\uc815 \uc6b4\uc6a9\uc5d0\uc11c \uadf9\ub3c4\ub85c \ucde8\uc57d\ud55c \uc704\uce58\uc5d0 \ub193\uc774\uac8c \ub418\uc5c8\ub2e4.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>\ubc34\ub4dc\uc758 \uc0c1\ub2e8\uacfc \uc138\uc785\uc758 \ubc14\ub2e5 \uc0ac\uc774\uc5d0\uc11c \uce74\ud478\ud1a0 \uc7a5\uad00\uc740 \ucd5c\uadfc \uacbd\uc81c \uacc4\ud68d\uc758 \uac00\uc7a5 \ud070 \uc57d\uc810 \uc911 \ud558\ub098\uc778 \uc678\ud658\ubcf4\uc720\uc561 \ucd95\uc801 \ubb38\uc81c\uc5d0 \ub300\ud55c \uc790\uc2e0\uc758 \uacac\ud574\ub97c \ubc1d\ud614\ub2e4.\uc774 \ubc1c\uc5b8\uc740 Bopreal 2026 \ucc44\uad8c\uc758 \uccab \ubc88\uc9f8 \uc6d0\uae08 \uc0c1\ud658\uc774 \uc774\ub8e8\uc5b4\uc9c4 \uc9c1\ud6c4 \ub098\uc628 \uac83\uc73c\ub85c, \uadf8 \uacb0\uacfc \uc21c\uc678\ud658\ubcf4\uc720\uc561\uc740 \ub2e4\uc2dc \ub9c8\uc774\ub108\uc2a4 \uc601\uc5ed\uc73c\ub85c \ub3cc\uc544\uac00 \ud604\uc7ac \u20134\uc5b57,600\ub9cc \ub2ec\ub7ec \uc218\uc900\uc5d0 \uba38\ubb3c\ub7ec \uc788\ub2e4. \uad6d\uc81c\uc900\ube44\uae08 (\ubc31\ub9cc \ub2ec\ub7ec)\ucd1d\uc900\ube44\uae08 41,776\uc9c0\uae09\uc900\ube44\uae08 18,066\uc911\uad6d \uc2a4\uc651 18,380\ubbf8\uad6d \uc2a4\uc651 2,511\uae30\ud0c0 \ubd80\ucc44 3,295\uc21c\uc900\ube44\uae08 \u2013476\uc815\ubd80\uc758 USD \uc608\uce58\uae08 108Bopreal 1\ub144\ubb3c 2,308\uc21c\uc678\ud658\ubcf4\uc720\uc561 \u20132,892\ucd9c\ucc98: Vectorial, BCRA \uc790\ub8cc \uae30\ubc18. \uc0c1\ud669\uc740 \ub9e4\uc6b0 \uc2ec\uac01\ud558\ub2e4.1\uc6d4\uc5d0 \uc608\uc815\ub41c \uad6d\ucc44 \uc0c1\ud658\uc561\uc774 \uc57d 42\uc5b5 \ub2ec\ub7ec\uc5d0 \ub2ec\ud558\ub294 \ubc18\uba74, \uad6d\uace0 \uc608\uce58\uae08\uc740 \uaca8\uc6b0 1\uc5b5800\ub9cc \ub2ec\ub7ec\uc5d0 \ubd88\uacfc\ud558\ub2e4.\uc21c\uc900\ube44\uae08\uc774 \ub9c8\uc774\ub108\uc2a4\ub77c\ub294 \uac83\uc740, \ub9cc\uc57d BCRA\uac00 \uc0c1\ud658\uc5d0 \ub098\uc120\ub2e4\uba74 \uc774\ub294 \uad6d\ub0b4 \uc608\uae08\uc790\ub4e4\uc758 \uc790\uae08(\ucc44\uad8c\uc790\ub4e4\uc758 \uc790\uc6d0) \uc744 \uc0ac\uc6a9\ud558\ub294 \uc148\uc774 \ub41c\ub2e4.\uadf8\ub7fc\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 \uad6d\uac00\uc704\ud5d8\ub3c4\ub294 650bp \uc218\uc900\uc744 \uc720\uc9c0\ud558\uace0 \uc788\ub2e4.\uc774\ub294 \uc2dc\uc7a5\uc774 \uc815\ubd80\uac00 \ubd80\uc815\uc801\uc778 \uc21c\uc678\ud658\ubcf4\uc720\uc561 \uc0c1\ud669\uc744 \uc720\uc9c0\ud558\ub354\ub77c\ub3c4, \ubbf8\uad6d\uacfc\uc758 \uc2a4\uc651\uc744 \ub354 \ub9ce\uc774 \ud65c\uc131\ud654\ud558\uac70\ub098 \uc21c\uc678\ud658\ubcf4\uc720\uc561\uc744 \uac1c\uc120\ud560 \uc218 \uc788\uc744 \uac83\uc774\ub77c \uae30\ub300\ud558\uae30 \ub54c\ubb38\uc774\ub2e4.\uac00\uc7a5 \uc774\uc0c1\uc801\uc778 \ubc29\ubc95\uc740 \uc790\ubcf8\uc2dc\uc7a5\uc744 \ud1b5\ud55c roll-over(\ub9cc\uae30\uc5f0\uc7a5) \ub97c \uc131\uc0ac\uc2dc\ud0a4\uac70\ub098, \ub2ec\ub7ec \ud45c\uc2dc\uac00 \uc544\ub2cc 2029\ub144 \ub9cc\uae30 \ucc44\uad8c \ubc1c\ud589(\ub2f9\uc77c \uc544\uce68 \ubc1c\ud45c) \ub610\ub294 \uad6d\uc81c \uc740\ud589\ub4e4\uacfc\uc758 \ub808\ud3ec(repo, \ud658\ub9e4\uc870\uac74\ubd80\ucc44\uad8c) \uacc4\uc57d\uc73c\ub85c \uc790\uae08\uc744 \uc870\ub2ec\ud558\ub294 \uac83\uc774\ub2e4.\uc774\uc5d0 \ub300\ud574 \uce74\ud478\ud1a0 \uc7a5\uad00\uc740 \u201c\ud604\uc7ac 60\uc5b5~70\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8\uc758 \uc81c\uc548\uc744 \ubc1b\uc558\uc73c\uba70, \ucd94\ud6c4 \uc5bc\ub9c8\ub97c \uc218\uc6a9\ud560\uc9c0 \uacb0\uc815\ud558\uaca0\ub2e4\u201d \uace0 \ub9d0\ud588\ub2e4.\uc774\ub7ec\ud55c \uc2e0\uc911\ud55c \ubc1c\uc5b8\uc740 \ud55c \ub2ec \uc804 \u201c200\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8\uc758 \uc2e0\uc6a9\ub77c\uc778\uc744 \ud655\ubcf4\ud588\ub2e4\u201d \uace0 \uc8fc\uc7a5\ud588\ub358 \uac19\uc740 \uc7a5\uad00\uc758 \ud0dc\ub3c4\uc640 \ub300\ube44\ub41c\ub2e4.\uc774\uc81c \uadf8\ub294 \uadf8 \ubc1c\uc5b8\uc744 \u201c\uc5b8\ub860\uc6a9 \ubc1c\uc5b8\u201d \uc774\ub77c\uace0 \ud45c\ud604\ud588\ub2e4.\ud658\uc728\uc740 \uc5ec\uc804\ud788 \uc2e0\uc911\ud55c \uc218\uc900\uc5d0\uc11c \uc720\uc9c0\ub418\uace0 \uc788\uc9c0\ub9cc, \uc0c1\ub2e8 \ubc34\ub4dc\ub97c \ub2e4\uc2dc \ud14c\uc2a4\ud2b8\ud560 \uc704\ud5d8\uc774 \uc788\ub2e4.\uc774\ub7f0 \uc0c1\ud669\uc5d0\uc11c \uc815\ubd80\uc758 \uc804\ub7b5\uc740 \uc704\ud5d8\ud560 \uc218 \uc788\ub2e4:\u201c\ub9cc\uc57d BCRA\uac00 \ud658\uc728 \uc0c1\ub2e8\uc5d0\uc11c \ub2ec\ub7ec\ub97c \ud314\uc544\uc57c \ud558\ub294 \uc0c1\ud669\uc5d0 \ub193\uc778\ub2e4\uba74, \uadf8\ub9ac\uace0 1\uc6d4 \uc0c1\ud658 \uc790\uae08\uc744 \uad6d\uace0\uac00 \uc544\uc9c1 \ud655\ubcf4\ud558\uc9c0 \ubabb\ud588\ub2e4\uba74 \uc2dc\uc7a5\uc5d0 \uc5b4\ub5a4 \uc601\ud5a5\uc774 \uc0dd\uae38\uae4c?\u201d\uc774\uc640 \uad00\ub828\ud574 \uce74\ud478\ud1a0 \uc7a5\uad00\uc740 \ub0b4\ub144\uc5d0 \uc2dc\uc7a5 \uc720\ub3d9\uc131\uacfc \uc678\ud658\uc2dc\uc7a5 \uae4a\uc774\uc5d0 \ub530\ub77c \ub2ec\ub7ec\ub97c \ub9e4\uc785\ud558\uaca0\ub2e4\uace0 \ubc1d\ud614\ub2e4.\uc774\ub294 \uc0ac\uc2e4\uc0c1 \uc790\uc720\uc2dc\uc7a5\uc5d0\uc11c \ub2ec\ub7ec\ub97c \uad6c\ub9e4\ud558\uaca0\ub2e4\ub294 \uc758\ubbf8\uc774\ub2e4.\uadf8\ub294 \ud654\ud3d0 \uc218\uc694\uc5d0 \ub300\ud55c \ub17c\uac70\ub85c \uc774\ub807\uac8c \uc124\uba85\ud588\ub2e4.\ub0b4\ub144\uc5d0\ub294 \uba85\ubaa9 GDP\uac00 25% \uc99d\uac00(\uc2e4\uc9c8 4% + \ud3c9\uade0 \uc778\ud50c\ub808\uc774\uc158 20%)\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub418\uba70, \uc774\ub294 1\uc870 \ud398\uc18c(\uc57d 70\uc5b5 \ub2ec\ub7ec) \uc758 \ucd94\uac00 \ud654\ud3d0 \uc218\uc694\ub97c \uc758\ubbf8\ud55c\ub2e4.\ub9cc\uc57d \ud654\ud3d0 \uae30\ubc18\uc774 GDP \ub300\ube44\ub85c \ub298\uc5b4\ub09c\ub2e4\uba74(\ud1b5\ud654 \uc2e0\ub8b0 \ud68c\ubcf5\uc73c\ub85c \uc778\ud55c \uc7ac\ud654\ud3d0\ud654), \uadf8 \uaddc\ubaa8\ub294 3\uc870 \ud398\uc18c(\uc57d 210\uc5b5 \ub2ec\ub7ec) \uae4c\uc9c0 \uc99d\uac00\ud560 \uc218 \uc788\ub2e4.\ud558\uc9c0\ub9cc \uc774\ub7ec\ud55c \uacc4\uc0b0\uc740 \ud604\uc2e4\uacfc \ucda9\ub3cc\ud55c\ub2e4.\ud604\uc7ac\uae4c\uc9c0\uc758 \uacbd\uc81c\uc758 \uc7ac\ud654\ud3d0\ud654\ub294 \ub2ec\ub7ec \ud310\ub9e4\uac00 \uc544\ub2c8\ub77c, \uacf5\uacf5\ucc44\uad8c \ud574\uccb4\ub97c \ud1b5\ud574 \uc774\ub8e8\uc5b4\uc9c0\uace0 \uc788\ub2e4.\uc774\ub85c\uc778\ud574 \uad6d\uace0\uc758 \ud604\uae08 \ubcf4\uc720\uc561\uc744 \uc0c1\ub2f9\ud788 \uc904\uc600\ub2e4.\uc989, \uc2dc\uc7a5 \ucc38\uc5ec\uc790\ub4e4\uc774 \ub2ec\ub7ec\ub97c \ud314\uae30\ubcf4\ub2e4 \ucc44\uad8c\uc774\ub098 \uc790\uc0b0\uc744 \uc720\uc9c0\ud558\ub824\ub294 \uc774\uc720\ub294 \ud658\uc728\ubcf4\ub2e4 \ub192\uc740 \uc774\uc790\uc728 \ub54c\ubb38\uc774\ub2e4.\ub530\ub77c\uc11c \ud604\uc7ac\uc758 \ud658\uc728 \uc218\uc900\uc740 \ub2ec\ub7ec \ub9e4\ub3c4\ub97c \ud1b5\ud55c \uc7ac\ud654\ud3d0\ud654 \ub97c \uc720\ub3c4\ud558\uae30\uc5d0\ub294 \ubd80\uc871\ud558\ub2e4\ub294 \uac83\uc774\ub2e4.\uc774 \ubc29\uc815\uc2dd\uc744 \ubc14\uafc0 \uc218 \uc788\ub294 \uac83\uc740 \ub2ec\ub7ec \ucd08\uacfc\uacf5\uae09, \uc989 \uc678\ud658\uc2dc\uc7a5\uc758 \uae4a\uc774 \ud655\ub300\uc774\ub2e4.\uce74\ud478\ud1a0\ub294 \uc774\ub97c \uae08\uc735\uacc4\uc815\uc744 \ud1b5\ud55c \uc790\uae08 \uc720\uc785\uc73c\ub85c \uc608\uc0c1\ud558\uc9c0\ub9cc, \uc62c\ud574\uc758 \uc678\ud658\uc2dc\uc7a5 \ub370\uc774\ud130\ub294 \ubc18\ub300 \uc99d\uac70\ub97c \uc81c\uc2dc\ud55c\ub2e4.10\uc6d4\uc758 \uc678\ud658\uc218\uc9c0\ub294 \uc5ec\uc804\ud788 \uc138 \uac00\uc9c0 \uad6c\uc870\uc801 \ubb38\uc81c\ub97c \ub4dc\ub7ec\ub0c8\ub2e4:<\/p>\n","protected":false},"author":6,"featured_media":10663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_themeisle_gutenberg_block_has_review":false,"_joinchat":[],"footnotes":""},"categories":[23,25,61],"tags":[],"class_list":["post-10662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-noticias-argentina","category-informes-economicos"],"_links":{"self":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/10662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10662"}],"version-history":[{"count":1,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/10662\/revisions"}],"predecessor-version":[{"id":10664,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/10662\/revisions\/10664"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/media\/10663"}],"wp:attachment":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}