{"id":12469,"date":"2026-04-27T17:51:22","date_gmt":"2026-04-27T20:51:22","guid":{"rendered":"https:\/\/hanin.org.ar\/?p=12469"},"modified":"2026-04-27T17:51:24","modified_gmt":"2026-04-27T20:51:24","slug":"%ec%98%a4%eb%8a%98%ec%9d%98-%ea%b2%bd%ec%a0%9c04%ec%9b%94-27%ec%9d%bc","status":"publish","type":"post","link":"https:\/\/hanin.org.ar\/?p=12469","title":{"rendered":"\uc624\ub298\uc758 \uacbd\uc81c(04\uc6d4 27\uc77c)"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

\uc624\ub298\uc758 \uacbd\uc81c<\/p>\n\n\n\n

    \n
  1. \uc7ac\ubb34\uccad, 7\uc870 9\ucc9c\uc5b5 \ud398\uc18c \ub9cc\uae30 \ucc28\ud658 \ucd94\uc9c4 \ubc0f \ub2ec\ub7ec \ucc44\uad8c \uc785\ucc30
    \uacbd\uc81c\ubd80\ub294 \uc774\ubc88 \ud654\uc694\uc77c \ub9cc\uae30 \ub3c4\ub798\ud55c 7\uc870 9\ucc9c\uc5b5 \ud398\uc18c \uaddc\ubaa8\ub97c \uc7ac\uc735\uc790\ud558\uae30 \uc704\ud55c \ud575\uc2ec \uc785\ucc30\uc744 \uac1c\uc2dc\ud588\ub2e4. \ub8e8\uc774\uc2a4 \uce74\ud478\ud1a0\uac00 \uc774\ub044\ub294 \ud3ec\ud2b8\ud3f4\ub9ac\uc624\ub294 \uba85\ud655\ud55c \uc804\ub7b5 \uc544\ub798 \ubbfc\uac04 \ud22c\uc790\uc790 \ubcf4\uc720 \ucc44\uad8c\uc744 \uc911\uc2ec\uc73c\ub85c \ub9cc\uae30\ub97c \uc5f0\uc7a5\ud558\uace0 \uc7a5\uae30 \uad6c\uac04\uc5d0\uc11c \ubcf4\ub2e4 \ub9e4\ub825\uc801\uc778 \uc218\uc775\ub960\uc744 \uc81c\uacf5\ud558\ub294 \ub370 \ucd08\uc810\uc744 \ub9de\ucd94\uace0 \uc788\ub2e4. \uc774\ub7ec\ud55c \uae30\ud68c \uc18d\uc5d0\uc11c \uc7ac\ubb34\uccad\uc740 \uc678\ud654 \uc870\ub2ec \ube44\uc911\uc744 \ud655\ub300\ud558\uba70 Bonar \ucc44\uad8c\ub97c \ud1b5\ud574 3\uc5b5 5\ucc9c\ub9cc \ub2ec\ub7ec\ub97c \ubc1c\ud589\ud588\uace0, \uc774\ub294 2\ucc28 \uc785\ucc30\uc5d0\uc11c \ucd94\uac00\ub85c 1\uc5b5 \ub2ec\ub7ec\uac00 \ub354\ud574\uc9c8 \uc608\uc815\uc774\ub2e4. \uc0c1\ud488 \uad6c\uc131\uc5d0\ub294 2026\ub144 6\uc6d4 \ub9cc\uae30\uc758 \uc2e0\uaddc Lecap \ubc1c\ud589\uacfc 2028\ub144 \ub9cc\uae30\uc758 Tamar \ucc44\uad8c, \uadf8\ub9ac\uace0 CER \ubc0f \ub2ec\ub7ec \uc5f0\ub3d9\ud615 \ub2e4\uc591\ud55c \uc790\uc0b0\uc774 \ud3ec\ud568\ub41c\ub2e4. \uc774 \uc804\ub7b5\uc740 \uae30\uc220\uc801 \ubd80\ucc44 \uad50\ud658\uacfc \ubcd1\ud589\ub418\uc5b4 \ub2e8\uae30 \uc7ac\uc815 \ubd80\ub2f4\uc744 \uc644\ud654\ud558\uae30 \uc704\ud574 \uae30\uc874 \ub2e8\uae30 \ucc44\uad8c\uc744 2028~2029\ub144 \ub9cc\uae30\uc758 \uc7a5\uae30 \ucc44\uad8c\uc73c\ub85c \uc804\ud658\ud558\ub294 \ub370 \ubaa9\uc801\uc774 \uc788\ub2e4. \uc774\ub7ec\ud55c \uc870\uce58\ub294 \uc2dc\uc7a5\uc774 \uc120\ubcc4\uc801\uc73c\ub85c \uc6c0\uc9c1\uc774\ub294 \uc0c1\ud669\uc5d0\uc11c \uc774\ub8e8\uc5b4\uc9c0\uace0 \uc788\uc73c\uba70, \ub2e8\uae30\uc5d0\uc11c\ub294 \uace0\uc815\uae08\ub9ac \uc120\ud638\uac00 \uc720\uc9c0\ub418\ub294 \ubc18\uba74 \uae00\ub85c\ubc8c \ubd88\ud655\uc2e4\uc131\uc73c\ub85c \uc778\ud574 \ud5e4\uc9c0 \uc218\uc694\uac00 \ube60\ub974\uac8c \uc99d\uac00\ud558\uace0 \uc788\ub2e4. \uc774\ubc88 \uc785\ucc30\uc744 \ud1b5\ud574 \uc815\ubd80\ub294 \ubd80\ucc44 \uad6c\uc870\ub97c \uc7a5\uae30\ub85c \uc804\ud658\ud558\uace0 \uc7ac\ubb34 \uad6c\uc870 \ub0b4 \ub2ec\ub7ec \uc720\ub3d9\uc131\uc744 \uac15\ud654\ud558\ub824\ub294 \uc758\uc9c0\ub97c \uc7ac\ud655\uc778\ud588\ub2e4.<\/li>\n\n\n\n
  2. \uc911\uc559\uc740\ud589, 74\uac70\ub798\uc77c \uc5f0\uc18d \uc21c\ub9e4\uc218 \uae30\ub85d
    \uc911\uc559\uc740\ud589\uc740 \uc678\ud658\uc2dc\uc7a5\uc5d0\uc11c 74\uac70\ub798\uc77c \uc5f0\uc18d \uc21c\ub9e4\uc218\ub97c \uae30\ub85d\ud558\uba70 \uc5ed\uc0ac\uc801\uc778 \ud750\ub984\uc744 \uc774\uc5b4\uac14\ub2e4. \uc774\ubc88 \uae08\uc694\uc77c\uae4c\uc9c0 8\ucc9c\ub9cc \ub2ec\ub7ec\ub97c \ucd94\uac00 \ub9e4\uc785\ud588\uc73c\uba70, \uc0b0\ud2f0\uc544\uace0 \ubc14\uc6b0\uc2e4\ub9ac \uc911\uc559\uc740\ud589 \ucd1d\uc7ac \uccb4\uc81c \ud558\uc5d0\uc11c 2026\ub144 \ub204\uc801 \ub9e4\uc785\uc561\uc740 67\uc5b5 6,100\ub9cc \ub2ec\ub7ec\uc5d0 \ub2ec\ud574 \uc5f0\uac04 \ubaa9\ud45c\uc758 \uc808\ubc18 \uc774\uc0c1\uc744 \uc774\ubbf8 \ub2ec\uc131\ud588\ub2e4. 4\uc6d4\uc5d0\ub294 \uae30\uc5c5 \ubd80\ubb38\uc758 \uac15\ud55c \uc678\ud654 \uc815\uc0b0 \ud750\ub984\uc5d0 \ud798\uc785\uc5b4 23\uc5b5 7,900\ub9cc \ub2ec\ub7ec\uac00 \uc720\uc785\ub418\uba70 \ub9e4\uc785 \uc18d\ub3c4\uac00 \uac00\uc18d\ud654\ub418\uc5c8\ub2e4. \ucd1d\uc678\ud658\ubcf4\uc720\uc561\uc740 461\uc5b5 8,400\ub9cc \ub2ec\ub7ec\ub85c \ub9c8\uac10\ub418\uc5c8\uc9c0\ub9cc, \uad6d\uace0\uc758 \ub300\uc678\ucc44\ubb34 \uc0c1\ud658\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 \uc21c\uc99d\uac00\ub294 \uc720\uc9c0\ub418\uc5c8\ub2e4. \uc774\ub7ec\ud55c \ud398\uc18c \uc720\ub3d9\uc131 \uc99d\uac00\uc5d0 \ub530\ub978 \uc778\ud50c\ub808\uc774\uc158 \uc601\ud5a5\uc744 \uc5b5\uc81c\ud558\uae30 \uc704\ud574 \uc815\ubd80\ub294 \ud398\uc18c \ud45c\uc2dc \ucc44\uad8c \ubc1c\ud589\uc744 \ud1b5\ud55c \ud761\uc218 \uc804\ub7b5\uc744 \ubcd1\ud589\ud558\uace0 \uc788\ub2e4. \uacf5\uc2dd \uc804\ub9dd\uc5d0 \ub530\ub974\uba74 \uc5f0\uac04 \uc21c\ub9e4\uc785\uc740 \ucd5c\ub300 170\uc5b5 \ub2ec\ub7ec\uc5d0 \uc774\ub97c \uc218 \uc788\uc73c\uba70, \uc774\ub294 \ud658\uc728 \uc548\uc815\uc131\uacfc \ubbfc\uac04\uae30\uc5c5\uc758 \uc57d 30\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8 \ucd94\uac00 \uc678\ud654 \uc815\uc0b0\uc5d0 \ub2ec\ub824 \uc788\ub2e4. \uc774\ub7ec\ud55c \ud750\ub984\uacfc 2018\ub144 \uc774\ud6c4 \ucd5c\ub300 \uc218\uc900\uc758 \uc678\ud658\ubcf4\uc720\uc561\uc740 \uad6d\uc81c \ubcc0\ub3d9\uc131\uc5d0 \ub300\uc751\ud558\uace0 \ub2e8\uae30\uc801\uc73c\ub85c \ud398\uc18c \uc218\uc694\ub97c \uc548\uc815\uc2dc\ud0a4\ub294 \ub370 \uae30\uc5ec\ud560 \uac83\uc73c\ub85c \ubcf4\uc778\ub2e4.<\/li>\n\n\n\n
  3. \ud658\ud5e4\uc9c0 \uc218\uc694 \uc7ac\ud655\ub300 \uc18d \ub3c4\ub9e4\ud658\uc728 \uc0c1\uc2b9
    \ub3c4\ub9e4 \ud658\uc728\uc740 \uc774\ubc88 \uae08\uc694\uc77c 7.50\ud398\uc18c \uc0c1\uc2b9\ud558\uba70 3\uc6d4 \uc911\uc21c \uc774\ud6c4 \ucd5c\uace0 \uc218\uc900\uc73c\ub85c \ub9c8\uac10\ud588\ub2e4. \uac70\ub798\ub7c9\uc774 9\uc5b5 5,450\ub9cc \ub2ec\ub7ec\uc5d0 \ub2ec\ud55c \ub192\uc740 \uac70\ub798\uc77c \uc18d\uc5d0\uc11c \ud22c\uc790\uc790\ub4e4\uc758 \uc218\uc694\uac00 \ub18d\uc5c5 \ubd80\ubb38 \uacf5\uae09\uacfc \uae30\uc5c5 \ucc44\uad8c \ubc1c\ud589 \ubb3c\ub7c9\uc744 \uc0c1\ud68c\ud588\ub2e4. \uc774\ub85c \uc778\ud574 \uacf5\uc2dd \ud658\uc728\uc740 \uc8fc\uac04 \uae30\uc900 2.6% \uc0c1\uc2b9\ud588\uc9c0\ub9cc, 2026\ub144 \ub204\uc801 \uae30\uc900\uc73c\ub85c\ub294 \uc5ec\uc804\ud788 3.95% \ud558\ub77d \uc0c1\ud0dc\ub97c \uc720\uc9c0\ud558\uace0 \uc788\ub2e4. \uc678\ud654 \uc720\uc785\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 \ud5e4\uc9c0 \uc218\uc694 \uc99d\uac00\uac00 \ud658\uc728\uc744 1,399.50\ud398\uc18c \uc218\uc900\uc73c\ub85c \ub04c\uc5b4\uc62c\ub838\ub2e4. \ud604\uc7ac \ud658\uc728\uc740 \uc911\uc559\uc740\ud589\uc774 \uc124\uc815\ud55c \ubc34\ub4dc \uc0c1\ub2e8 1,693.51\ud398\uc18c \ub300\ube44 17.3% \ub0ae\uc740 \uc218\uc900\uc774\ub2e4. \uc774\ub7ec\ud55c \ud750\ub984\uc740 \uc218\ucd9c\uc5c5\uccb4\uc640 \uc9c0\ubc29\uc758 \uc678\ud654 \uc815\uc0b0\uc774 \ubbfc\uac04 \uc218\uc694 \ubc18\ub4f1\uc744 \uc77c\ubd80 \uc0c1\uc1c4\ud558\ub294 \uac00\uc6b4\ub370 \uc0c1\uc5c5 \uc2dc\uc7a5\uc758 \ubcc0\ub3d9\uc131\uc774 \ud655\ub300\ub418\uace0 \uc788\uc74c\uc744 \ubcf4\uc5ec\uc900\ub2e4. \ucd5c\uadfc 5\uc77c\uac04 \uc740\ud589 \uac04 \ud658\uc728\uc740 35\ud398\uc18c \uc0c1\uc2b9\ud558\uba70 \uc5f0\uac04 \ud558\ub77d\ud3ed\uc744 \uc77c\ubd80 \ucd95\uc18c\ud588\ub2e4. \ud55c\ud3b8 MEP \ud658\uc728\uc740 1,438.34\ud398\uc18c(\uaca9\ucc28 2.78%), CCL \ud658\uc728\uc740 1,498.11\ud398\uc18c(\uaca9\ucc28 7.05%)\ub97c \uae30\ub85d\ud588\ub2e4.<\/li>\n\n\n\n
  4. \uc0b0\uc5c5 \uc704\uae30: \uc720\ud734 \uc124\ube44 \ube44\uc728, 14\ub144 \ub9cc\uc5d0 \ucd5c\uc545
    \uc544\ub974\ud5e8\ud2f0\ub098 \uc0b0\uc5c5\uc740 \uc124\ube44 \uac00\ub3d9\ub960\uc774 \uc5ed\uc0ac\uc801 \uc800\uc810\uc73c\ub85c \ub5a8\uc5b4\uc9c0\uba70 \uc2ec\uac01\ud55c \uc704\uae30\ub97c \uacaa\uace0 \uc788\ub2e4. INDEC (\uad6d\uac00\ud1b5\uacc4\uccad)\uc5d0 \ub530\ub974\uba74 2\uc6d4 \uac00\ub3d9\ub960\uc740 54.6%\ub85c \uc804\uc6d4 \ub300\ube44 4%\ud3ec\uc778\ud2b8 \ud558\ub77d\ud574 \uac70\uc758 \uc808\ubc18\uc758 \uacf5\uc7a5\uc774 \uba48\ucdb0 \uc788\ub294 \uc218\uc900\uc774\ub2e4. \uc0b0\uc5c5 \ub0b4 \uaca9\ucc28\ub3c4 \ud06c\uac8c \ud655\ub300\ub418\uace0 \uc788\ub2e4. \uc790\ub3d9\ucc28 \uc0b0\uc5c5\uc740 \ub4f1\ub85d \uc99d\uac00\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 \uc0dd\uc0b0\uc774 \uc815\uccb4\ub418\uc5b4 \uc788\uc73c\uba70, \uc218\uc785\ucc28\uac00 \uc2dc\uc7a5\uc758 80%\ub97c \ucc28\uc9c0\ud558\uace0 \uc788\ub2e4. \uac74\uc124\uc5c5\uc740 \ub0b4\uc218 \ubd80\uc9c4\uc73c\ub85c \ud070 \ud3ed\uc758 \ud6c4\ud1f4\ub97c \ubcf4\uc774\uace0 \uc788\ub2e4. \uc720\uc77c\ud55c \uc608\uc678\ub294 \uc5d0\ub108\uc9c0 \ubd90\uc5d0 \ud798\uc785\uc5b4 88.9% \uac00\ub3d9\ub960\uc744 \uae30\ub85d\ud55c \uc815\uc720 \ubd80\ubb38\uc774\ub2e4. \uadf8 \uc678 \uc12c\uc720 \ub4f1 \uc81c\uc870\uc5c5\uc740 \ud574\uc678 \uacbd\uc7c1\uacfc \uae08\uc735 \uc811\uadfc\uc131 \ubd80\uc871\uc73c\ub85c \uce68\uccb4\uac00 \uc2ec\ud654\ub418\uace0 \uc788\ub2e4. \uc774\ub7ec\ud55c \uc0dd\uc0b0 \uc704\ucd95\uc740 \uace0\uc6a9\uacfc \uc0b0\uc5c5\uc758 \ubbf8\ub798\uc5d0 \uacbd\uace0 \uc2e0\ud638\ub97c \ubcf4\ub0b4\uace0 \uc788\uc73c\uba70, \uc18c\ube44 \ud68c\ubcf5 \uc5c6\uc774\ub294 \uc720\ud734 \uc0dd\uc0b0 \ub2a5\ub825\uc774 \uacbd\uc81c \uc131\uc7a5\uc744 \uacc4\uc18d \uc81c\ud55c\ud560 \uac83\uc73c\ub85c \ubcf4\uc778\ub2e4.<\/li>\n\n\n\n
  5. \uc911\ub3d9 \uc804\uc7c1 \uc885\uc2dd \uae30\ub300, \uae00\ub85c\ubc8c \uc2dc\uc7a5 \uae09\ub4f1 \ucd09\ubc1c
    \uc911\ub3d9 \uc804\uc7c1 \uc885\uc2dd \uac00\ub2a5\uc131\uc5d0 \ub300\ud55c \uae30\ub300 \uc18d\uc5d0\uc11c \uae00\ub85c\ubc8c \uae08\uc735\uc2dc\uc7a5\uc740 4\uc6d4\uc744 \uac15\ud55c \uc0c1\uc2b9\uc138\ub85c \ub9c8\uac10\ud588\ub2e4. \uc804\ud658\uc810\uc740 4\uc6d4 24\uc77c\ub85c, \uc774\ub780\uc774 \ud638\ub974\ubb34\uc988 \ud574\ud611 \uc7ac\uac1c\ub97c \ubc1c\ud45c\ud558\uba74\uc11c \uc720\uac00 \uc548\uc815\uacfc \uae00\ub85c\ubc8c \uc778\ud50c\ub808\uc774\uc158 \uc804\ub9dd \ud558\ub77d\uc774 \ucd09\ubc1c\ub418\uc5c8\ub2e4. \uc774 \uc601\ud5a5\uc73c\ub85c \ub098\uc2a4\ub2e5\uc740 \ud55c \ub2ec \ub3d9\uc548 15% \uc0c1\uc2b9\ud574 24,800\ud3ec\uc778\ud2b8\uc758 \uc0ac\uc0c1 \ucd5c\uace0\uce58\ub97c \uae30\ub85d\ud588\uace0, S&P 500\uc740 \ucc98\uc74c\uc73c\ub85c 7,100\ud3ec\uc778\ud2b8\ub97c \ub3cc\ud30c\ud588\ub2e4. \ud22c\uc790\uc790\ub4e4\uc740 \uc5f0\ub9d0 \uc774\uc804 \uae08\ub9ac \uc778\ud558 \uac00\ub2a5\uc131\uc744 \uc57d 50%\ub85c \ubc18\uc601\ud558\uba70 \uc5f0\uc900\uc758 \uc644\ud654 \uc804\ud658\uc744 \uae30\ub300\ud558\uace0 \uc788\ub2e4. \uad6d\uc81c\uc720\uac00\ub294 \uae34\uc7a5 \uc644\ud654 \uc18d\uc5d0\uc11c \ubc30\ub7f4\ub2f9 113\ub2ec\ub7ec\uc5d0\uc11c 105\ub2ec\ub7ec\ub85c \ud558\ub77d\ud588\ub2e4. \uad6d\ub0b4 \uc2dc\uc7a5\uc5d0\uc11c\ub3c4 \uae0d\uc815\uc801\uc778 \ud750\ub984\uc774 \ub098\ud0c0\ub098 \uad6d\ucc44\ub294 \ud3c9\uade0 4% \uc0c1\uc2b9\ud588\uace0, \uad6d\uac00\uc704\ud5d8\uc9c0\uc218\ub294 600bp \uc544\ub798\ub85c \ub0b4\ub824\uac00 \uc57d 550bp\ub97c \uae30\ub85d\ud588\ub2e4. \uae00\ub85c\ubc8c \ub2ec\ub7ec \uc57d\uc138\uc640 \uc911\uc559\uc740\ud589\uc758 \uc9c0\uc18d\uc801\uc778 \uc678\ud654 \ub9e4\uc785\uc774 \uacb0\ud569\ub418\uba70 \uad6d\ub0b4 \uae08\uc735 \ud658\uacbd\uc774 \uac1c\uc120\ub418\uc5c8\uace0, \ud2b9\ud788 \uc5d0\ub108\uc9c0 \uae30\uc5c5\uacfc \uc2e0\ud765\uad6d \ucc44\uad8c\uc5d0 \uc720\ub9ac\ud55c \uc5ec\uac74\uc774 \ud615\uc131\ub418\uace0 \uc788\ub2e4.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    \uc624\ub298\uc758 \uacbd\uc81c<\/p>\n","protected":false},"author":6,"featured_media":12110,"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-12469","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\/12469","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=12469"}],"version-history":[{"count":1,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/12469\/revisions"}],"predecessor-version":[{"id":12470,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/12469\/revisions\/12470"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/media\/12110"}],"wp:attachment":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}