{"id":12777,"date":"2026-05-20T17:15:16","date_gmt":"2026-05-20T20:15:16","guid":{"rendered":"https:\/\/hanin.org.ar\/?p=12777"},"modified":"2026-05-20T17:15:17","modified_gmt":"2026-05-20T20:15:17","slug":"%ec%98%a4%eb%8a%98%ec%9d%98-%ea%b2%bd%ec%a0%9c05%ec%9b%94-20%ec%9d%bc-2","status":"publish","type":"post","link":"https:\/\/hanin.org.ar\/?p=12777","title":{"rendered":"\uc624\ub298\uc758 \uacbd\uc81c(05\uc6d4 20\uc77c)"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

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

    \n
  1. \uc9c0\uc815\ud559\uc801 \uae34\uc7a5 \uace0\uc870\ub85c \ub3c4\ub9e4\ubb3c\uac00 \uae09\ub4f1
    \uc544\ub974\ud5e8\ud2f0\ub098 \ub3c4\ub9e4\ubb3c\uac00 \uc778\ud50c\ub808\uc774\uc158\uc740 \uae00\ub85c\ubc8c \ucda9\uaca9\uc758 \uc601\ud5a5\uc744 \ud06c\uac8c \ubc1b\uc73c\uba70 4\uc6d4\uc5d0 5.2%\uae4c\uc9c0 \uae09\ub4f1\ud588\ub2e4. \uc774\ub294 2024\ub144 3\uc6d4 \uc774\ud6c4 \uac00\uc7a5 \ub192\uc740 \uc218\uce58\ub2e4. INDEC(\uad6d\uac00\ud1b5\uacc4\uccad)\uc740 \uc774\ubc88 \uc0c1\uc2b9\uc774 \uc911\ub3d9 \ubd84\uc7c1\uacfc \uc9c1\uc811\uc801\uc73c\ub85c \uc5f0\uad00\ub418\uc5b4 \uc788\ub2e4\uace0 \ud655\uc778\ud588\ub2e4. \uc774\ub780\uc758 \ud638\ub974\ubb34\uc988 \ud574\ud611 \ubd09\uc1c4\ub85c \uc138\uacc4 \uc11d\uc720 \ubb3c\ub3d9\ub7c9\uc758 20%\uac00 \uc601\ud5a5\uc744 \ubc1b\uc73c\uba74\uc11c \uad6d\uc81c \uc5d0\ub108\uc9c0 \ubc0f \ube44\ub8cc \uac00\uaca9\uc774 \uae09\ub4f1\ud588\ub2e4.
    \uad6d\ub0b4\uc5d0\uc11c\ub294 1\ucc28 \uc0dd\uc0b0\ud488 \uac00\uaca9\uc774 9.8% \uc0c1\uc2b9\ud558\uba70 \uc804\uccb4 \uc0c1\uc2b9\uc744 \uc8fc\ub3c4\ud588\ub2e4. \uadf8 \uac00\uc6b4\ub370 \uc11d\uc720\uc640 \uac00\uc2a4 \uac00\uaca9\uc740 22.9% \uae09\ub4f1\ud588\ub2e4. \ub610\ud55c \uc11d\uc720 \uc815\uc81c\ud488(13.6%), \uace0\ubb34\u00b7\ud50c\ub77c\uc2a4\ud2f1(7.4%), \ud654\ud559\uc81c\ud488(3.1%)\ub3c4 \ud070 \ud3ed\uc758 \uc0c1\uc2b9\uc138\ub97c \uae30\ub85d\ud588\ub2e4.
    \ub8e8\uc774\uc2a4 \uce74\ud478\ud1a0 \uc7ac\ubb34\uccad \uc7a5\uad00\uc5d0 \ub530\ub974\uba74, \uc774\ubc88 \uc804\uc7c1\uc758 \uc9c1\uc811\uc801\uc778 \uc601\ud5a5\uc774 \uc804\uccb4 \ubb3c\uac00\uc9c0\uc218 \ubcc0\ub3d9\uc758 85%\ub97c \ucc28\uc9c0\ud55c\ub2e4\uace0 \ubc1d\ud614\ub2e4. \ub3d9\uc2dc\uc5d0 \uc774\ub780\uc758 \ud574\uc0c1 \ud1b5\uc81c \uae30\uad6c \ucc3d\uc124\uc740 \ubbf8\uad6d\uacfc\uc758 \uac08\ub4f1\uc744 \ub354\uc6b1 \uace0\uc870\uc2dc\ud0a4\uba70 \uc11c\ubc29 \uae08\uc735\uc2dc\uc7a5\uc5d0 \uae34\uc7a5\uac10\uc744 \uc720\uc9c0\uc2dc\ud0a4\uace0 \uc788\ub2e4.<\/li>\n\n\n\n
  2. \uae00\ub85c\ubc8c \ubc0f \uad6d\ub0b4 \uae34\uc7a5 \uc18d \ucc44\uad8c\u00b7\uc8fc\uc2dd \ud558\ub77d
    \uc544\ub974\ud5e8\ud2f0\ub098 \uc8fc\uc2dd\uacfc \ucc44\uad8c\uc740 \uc6d4\uac00\uc5d0\uc11c \uc804\ubc18\uc801\uc778 \ud558\ub77d\uc138\ub97c \ubcf4\uc600\ub2e4. \uac15\ud55c \ucc28\uc775\uc2e4\ud604 \ub9e4\ubb3c\uc774 \ub098\uc624\uba74\uc11c S&P \uba54\ub974\ubc1c \uc9c0\uc218\ub294 \ud398\uc18c \uae30\uc900 1.5%, \ub2ec\ub7ec \uae30\uc900 1.7% \ud558\ub77d\ud588\ub2e4. JP\ubaa8\uac74\uc758 \uad6d\uac00\uc704\ud5d8\uc9c0\uc218\ub294 6\uac70\ub798\uc77c \uc5f0\uc18d \uc0c1\uc2b9\ud558\uba70 547bp\uae4c\uc9c0 \uc62c\ub790\ub2e4.
    \ud638\ub974\ubb34\uc988 \ud574\ud611 \ubd09\uc1c4\ub85c \uc778\ud55c \uae00\ub85c\ubc8c \ubd88\ud655\uc2e4\uc131\uc774 \ud22c\uc790 \uc2ec\ub9ac\ub97c \uc545\ud654\uc2dc\ucf30\uace0, \uad6d\ub0b4\uc801\uc73c\ub85c\ub3c4 \uacbd\uc81c \uc0c1\ud669\uc5d0 \ub300\ud55c \uc6b0\ub824\uac00 \uc774\uc5b4\uc84c\ub2e4. \uc815\ubd80\uac00 \uc7ac\uc815 \ud751\uc790\uc640 \uc678\ud658\ubcf4\uc720\uace0 \uc99d\uac00\ub97c \uc720\uc9c0\ud558\uace0 \uc788\uc74c\uc5d0\ub3c4 \uacbd\uc81c\ud65c\ub3d9 \ub454\ud654\uc640 \uc784\uae08 \uc815\uccb4\uac00 \uc6b0\ub824 \uc694\uc778\uc73c\ub85c \uc9c0\uc801\ub410\ub2e4.
    \uc774\ub7ec\ud55c \uc0c1\ud669\uc740 \uc138\uc218 \uac10\uc18c\uc640 \ubbfc\uac04 \uc2e0\uc6a9 \ud655\ub300 \ub454\ud654\ub85c \uc774\uc5b4\uc9c0\uace0 \uc788\ub2e4. \ucc44\uad8c\uc2dc\uc7a5\uc5d0\uc11c\ub294 \ub2ec\ub7ec \ud45c\uc2dc \uad6d\ucc44\uac00 \ucd5c\ub300 0.6% \ud558\ub77d\ud588\uc73c\uba70, \ud2b9\ud788 Bonar 2035\uac00 \ud558\ub77d\uc744 \uc8fc\ub3c4\ud588\ub2e4. \uc774\uc5d0 \ub530\ub77c \uc2dc\uc7a5\uc740 \ub2e4\uc2dc \ud55c\ubc88 \uc548\uc815\uc801\uc778 \uc0c1\uc2b9 \ucd94\uc138\ub97c \uc720\uc9c0\ud558\uae30 \uc5b4\ub824\uc6b4 \ubaa8\uc2b5\uc744 \ubcf4\uc774\uace0 \uc788\ub2e4.<\/li>\n\n\n\n
  3. \ud658\uc728 \uc548\uc815\uacfc \ub192\uc740 \uac70\ub798\ub7c9: \ub3c4\ub9e4 \ub2ec\ub7ec \ud658\uc728 1,400\ud398\uc18c \uc544\ub798 \uc720\uc9c0
    \ub3c4\ub9e4 \uc678\ud658\uc2dc\uc7a5\uc740 \ud558\ub8e8 \uac70\ub798\ub7c9\uc774 \ud604\ubb3c \uae30\uc900 5\uc5b57,110\ub9cc \ub2ec\ub7ec\uc5d0 \ub2ec\ud558\ub294 \ud65c\ubc1c\ud55c \uac70\ub798\ub97c \uae30\ub85d\ud588\ub2e4. \ud658\uc728\uc740 \ub2e8 1\ud398\uc18c \uc0c1\uc2b9\ud574 1,398\ud398\uc18c\ub85c \ub9c8\uac10\ud588\ub2e4.
    \uc774\ub85c\uc368 \ub2ec\ub7ec\ub294 5\uc6d4 \ub4e4\uc5b4 \ub204\uc801 0.5% \uc0c1\uc2b9\uc5d0 \uadf8\ucce4\uace0, 2026\ub144 \uc804\uccb4\ub85c\ub294 3.9% \ud558\ub77d\ud558\uba70 \ud558\ub77d \ucd94\uc138\ub97c \uc774\uc5b4\uac14\ub2e4. \uc544\ub974\ud5e8\ud2f0\ub098 \uc911\uc559\uc740\ud589(BCRA)\uc740 \ud658\uc728 \ubc34\ub4dc \uc0c1\ub2e8\uc744 1,738.49\ud398\uc18c\ub85c \uc720\uc9c0\ud588\uc73c\uba70, \ud604\uc7ac \uacf5\uc2dd \ud658\uc728\uc740 \ud574\ub2f9 \uc0c1\ub2e8 \ub300\ube44 24.4% \ub0ae\uc740 \uc218\uc900\uc5d0 \uc704\uce58\ud574 \uc788\ub2e4.
    \uc18c\ub9e4\uc2dc\uc7a5\uc5d0\uc11c\ub294 Banco Naci\u00f3n\uc758 \ub2ec\ub7ec \ud310\ub9e4 \ud658\uc728\uc774 3\uac70\ub798\uc77c \uc5f0\uc18d \ubcc0\ub3d9 \uc5c6\uc774 1,420\ud398\uc18c\ub97c \uc720\uc9c0\ud588\ub2e4. \uc774\ub294 \ub3c4\ub9e4\uc2dc\uc7a5\uc758 \ub192\uc740 \uc678\ud654 \uacf5\uae09 \ub355\ubd84\uc5d0 \ud658\uc728\uc2dc\uc7a5\uc774 \uc548\uc815\uc138\ub97c \uc720\uc9c0\ud558\uace0 \uc788\uc74c\uc744 \ubcf4\uc5ec\uc900\ub2e4.
    \uc774\uc640\uad00\ub828 Infobae \uc9c0\uc5d0 \uac8c\uc7ac\ub41c \ubd84\uc11d\uc5d0\uc11c\ub294 \ub2e4\uc74c\uacfc \uac19\uc774 \uc124\uba85\ud588\ub2e4.
    \u201c\ub18d\uc5c5 \ubd80\ubb38\uc758 \uac15\ud55c \uc678\ud654 \uc720\uc785 \ub355\ubd84\uc5d0 \uc8fc\ucd08 \uacf5\uc2dd \ud658\uc728\uc740 \uc548\uc815\uc138\ub97c \uc720\uc9c0\ud588\ub2e4. \uc2dc\uc7a5\uc740 \ud604\uc7ac \ub300\ub450 \uc218\ud655\uae30 \ub3d9\uc548 \uc911\uc559\uc740\ud589\uc774 \uc5bc\ub9c8\ub098 \uc678\ud658\ubcf4\uc720\uace0\ub97c \ub298\ub9b4 \uc218 \uc788\uc744\uc9c0 \uc8fc\ubaa9\ud558\uace0 \uc788\ub2e4. \uc62c\ud574 \ub4e4\uc5b4 \ud658\uc728\uc740 4% \ud558\ub77d\ud55c \ubc18\uba74, 1~4\uc6d4 \ub204\uc801 \uc778\ud50c\ub808\uc774\uc158\uc740 12.3%\ub97c \uae30\ub85d\ud588\ub2e4.\u201d<\/li>\n\n\n\n
  4. \uc911\uc559\uc740\ud589, 90\uac70\ub798\uc77c \uc5f0\uc18d \uc21c\ub9e4\uc218 \uae30\ub85d
    \uc544\ub974\ud5e8\ud2f0\ub098 \uc911\uc559\uc740\ud589\uc740 \ud654\uc694\uc77c \uc678\ud658\uc2dc\uc7a5\uc5d0\uc11c 1\uc5b54,400\ub9cc \ub2ec\ub7ec\ub97c \ub9e4\uc785\ud558\uba70 90\uac70\ub798\uc77c \uc5f0\uc18d \uc21c\ub9e4\uc218\ub97c \uae30\ub85d\ud588\ub2e4.
    \uc774\ub85c\uc368 2026\ub144 \ub4e4\uc5b4 \ub204\uc801 \uc21c\ub9e4\uc218 \uaddc\ubaa8\ub294 83\uc5b5 \ub2ec\ub7ec\ub97c \ub118\uc5b4\uc130\uace0, \uc5f0\uac04 \ubaa9\ud45c\uc758 83.78%\ub97c \ub2ec\uc131\ud588\ub2e4. \uc678\ud658\ubcf4\uc720\uace0\ub294 461\uc5b59,000\ub9cc \ub2ec\ub7ec\uae4c\uc9c0 \uc99d\uac00\ud588\uc73c\uba70, \uc774\ub294 \uc740\ud589\u00b7\uae30\uc5c5\u00b7\uacf5\uacf5\uae30\uad00\uacfc\uc758 \ud611\uc815 \ub355\ubd84\uc774\ub77c\uace0 \uc124\uba85\ub410\ub2e4.
    \uc7ac\ubb34\uccad\uc740 \uc774\ub7ec\ud55c \uc218\uc900\uc774 \ub300\ub450 \uc218\ud655 \uc678\ud654 \uc720\uc785\uc774 \ubcf8\uaca9\ud654\ub418\uae30 \uc774\uc804\uc5d0 \ub2ec\uc131\ub418\uc5c8\ub2e4\uace0 \uac15\uc870\ud588\ub2e4. \uc218\ud655\uae30 \uc678\ud654 \uc720\uc785\uc740 \ub2e8\uae30\uc801\uc73c\ub85c \uc678\ud658 \uacf5\uae09\uc744 \ub354\uc6b1 \ud655\ub300\ud560 \uc804\ub9dd\uc774\ub2e4.
    \ub610\ud55c \uc815\ubd80\ub294 \uc778\ud50c\ub808\uc774\uc158 \uc5b5\uc81c\uc640 \uc678\ud658\ubcf4\uc720\uace0 \ucd95\uc801\uc744 \uc720\uc9c0\ud558\uae30 \uc704\ud574 \uad6d\ucc44 \ubc1c\ud589\uc744 \ud1b5\ud574 \uc2dc\uc911 \ud398\uc18c \uc720\ub3d9\uc131\uc744 \ud761\uc218\ud558\uace0 \uc788\ub2e4. \uacf5\uc2dd \uc804\ub9dd\uc5d0 \ub530\ub974\uba74 \uc62c\ud574 \uc678\ud658\uc2dc\uc7a5 \uc21c\ub9e4\uc218 \uaddc\ubaa8\ub294 100\uc5b5~170\uc5b5 \ub2ec\ub7ec\uc5d0 \ub2ec\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub418\uba70, \ud5a5\ud6c4 \ud574\uc678 \uae30\uc5c5\ucc44 \ubc0f \uc9c0\ubc29\ucc44 \ubc1c\ud589\ub3c4 \uc774\ub97c \ub4b7\ubc1b\uce68\ud560 \uc804\ub9dd\uc774\ub2e4.<\/li>\n\n\n\n
  5. \uc911\uc18c\uae30\uc5c5 \ud22c\uc790 \uc778\uc13c\ud2f0\ube0c: \uc815\ubd80, \uc2e0\uaddc \ud22c\uc790\uc81c\ub3c4 \uacf5\uc2dd\ud654
    \uc815\ubd80\ub294 ARCA(\uc138\uae08\uad00\uc138\uad00\ub9ac\uccad)\uc640 \uc5d0\ub108\uc9c0\u00b7\ub18d\uc5c5\ubd80 \uacf5\ub3d9 \uacb0\uc758\ub97c \ud1b5\ud574 \uc911\uaddc\ubaa8 \ud22c\uc790 \uc778\uc13c\ud2f0\ube0c \uc81c\ub3c4(RIMI)\ub97c \uc2dc\ud589\ud588\ub2e4.
    \uc774 \uc81c\ub3c4\ub294 \ubc95\uc778\uc138(Ganancias)\uc640 \ubd80\uac00\uac00\uce58\uc138(IVA) \ud61c\ud0dd\uc744 \uc81c\uacf5\ud574 \uc911\uc18c\uae30\uc5c5 \ubd84\uc57c\uc758 \ud22c\uc790 \uc720\uce58\uc640 \uace0\uc6a9 \ucc3d\ucd9c\uc744 \ubaa9\ud45c\ub85c \ud55c\ub2e4. \ub610\ud55c \uace0\uc815\uc790\uc0b0\uc758 \uc870\uae30 \uac10\uac00\uc0c1\uac01\uacfc \uc138\uc561\uacf5\uc81c \uc870\uae30 \ud658\uae09 \uc81c\ub3c4\ub3c4 \ud3ec\ud568\ub41c\ub2e4.
    \ud61c\ud0dd \uc801\uc6a9\uc744 \uc704\ud574 \uae30\uc5c5\uc740 2\ub144 \ub0b4 \ucd5c\uc18c \ud22c\uc790 \uae30\uc900\uc744 \ucda9\uc871\ud574\uc57c \ud558\uba70, \uc18c\uae30\uc5c5\uc740 15\ub9cc \ub2ec\ub7ec, \uc911\uacac\uae30\uc5c5(Tramo 2)\uc740 \ucd5c\ub300 900\ub9cc \ub2ec\ub7ec \uaddc\ubaa8\uae4c\uc9c0 \uc694\uad6c\ub41c\ub2e4.
    \ub610\ud55c \uc704\ud5d8\uad00\ub9ac, \uc5d0\ub108\uc9c0 \ud6a8\uc728\ud654, \uc6b0\ubc15 \ubc29\uc9c0\ub9dd \ud504\ub85c\uc81d\ud2b8\uc5d0\ub294 \ucd5c\uc18c \ud22c\uc790 \ud55c\ub3c4\uac00 \uc5c6\ub294 \ud2b9\ubcc4 \uce74\ud14c\uace0\ub9ac\uac00 \uc2e0\uc124\ub410\ub2e4.
    \ub2e4\ub9cc \uc81c\ub3c4\ub294 \uc774\ubbf8 \uacf5\uc2dd \ubc1c\ud6a8\ub418\uc5c8\uc9c0\ub9cc, \uc544\uc9c1 \ub514\uc9c0\ud138 \uc2e0\uccad \ud50c\ub7ab\ud3fc \uad6c\ucd95\uacfc \uc801\uc6a9 \ub300\uc0c1 \uc790\uc0b0 \ubaa9\ub85d \ud655\uc815 \uc791\uc5c5\uc774 \ub0a8\uc544 \uc788\uc5b4 \uc644\uc804\ud788 \uc6b4\uc601\ub418\uc9c0\ub294 \uc54a\uace0 \uc788\ub2e4.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    \uc624\ub298\uc758 \uacbd\uc81c<\/p>\n","protected":false},"author":6,"featured_media":12778,"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-12777","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\/12777","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=12777"}],"version-history":[{"count":1,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/12777\/revisions"}],"predecessor-version":[{"id":12779,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/12777\/revisions\/12779"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/media\/12778"}],"wp:attachment":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}