{"id":12795,"date":"2026-05-21T17:06:53","date_gmt":"2026-05-21T20:06:53","guid":{"rendered":"https:\/\/hanin.org.ar\/?p=12795"},"modified":"2026-05-21T17:06:55","modified_gmt":"2026-05-21T20:06:55","slug":"%ec%98%a4%eb%8a%98%ec%9d%98-%ea%b2%bd%ec%a0%9c05%ec%9b%94-21%ec%9d%bc","status":"publish","type":"post","link":"https:\/\/hanin.org.ar\/?p=12795","title":{"rendered":"\uc624\ub298\uc758 \uacbd\uc81c(05\uc6d4 21\uc77c)"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

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

    \n
  1. \uc218\ucd9c \ud638\uc870: 4\uc6d4 \ubb34\uc5ed\ud751\uc790, \uc0c8\ub85c\uc6b4 \uae30\ub85d \ub2ec\uc131
    \uc544\ub974\ud5e8\ud2f0\ub098\uc758 \ubb34\uc5ed\uc218\uc9c0\ub294 4\uc6d4\uc5d0 27\uc5b51,100\ub9cc \ub2ec\ub7ec\uc758 \uc0ac\uc0c1 \ucd5c\ub300 \ud751\uc790\ub97c \uae30\ub85d\ud588\ub2e4. \uc774\ub294 \uc218\ucd9c\uc758 \uac15\ud55c \uc99d\uac00\uc640 \uc218\uc785 \uac10\uc18c\uac00 \ub3d9\uc2dc\uc5d0 \ub098\ud0c0\ub09c \uacb0\uacfc\ub2e4. INDEC\uc758 \uacf5\uc2dd \ubc1c\ud45c\uc5d0 \ub530\ub974\uba74, \uc544\ub974\ud5e8\ud2f0\ub098\ub294 29\uac1c\uc6d4 \uc5f0\uc18d \ubb34\uc5ed\ud751\uc790\ub97c \uc774\uc5b4\uac14\ub2e4. \uc62c\ud574 \uccab 4\uac1c\uc6d4 \ub204\uc801 \ud751\uc790\ub294 82\uc5b57,500\ub9cc \ub2ec\ub7ec\ub85c, 2025\ub144 \uac19\uc740 \uae30\uac04 \ub300\ube44 \uac70\uc758 6\ubc30 \uc99d\uac00\ud588\ub2e4. \uc804\uccb4 \uad50\uc5ed \uaddc\ubaa8\ub294 151\uc5b51,800\ub9cc \ub2ec\ub7ec\ub85c \uc804\ub144 \ub300\ube44 15.1% \uc99d\uac00\ud588\ub2e4. \uc218\ucd9c\uc740 \uad6d\uc81c \uac00\uaca9 \uc0c1\uc2b9\uacfc \ubb3c\ub7c9 \uc99d\uac00\uc5d0 \ud798\uc785\uc5b4 89\uc5b51,400\ub9cc \ub2ec\ub7ec\ub85c 3.6% \uc99d\uac00\ud588\ub2e4. \uc11d\uc720, \ub9ac\ud2ac, \uc625\uc218\uc218, \uc790\ub3d9\ucc28 \ubd80\ubb38\uc774 \uc99d\uac00\uc138\ub97c \uc8fc\ub3c4\ud588\ub2e4. \ubc18\uba74 \uc218\uc785\uc740 \uc218\uc694 \uac10\uc18c \uc601\ud5a5\uc73c\ub85c 4% \uac10\uc18c\ud55c 62\uc5b5400\ub9cc \ub2ec\ub7ec\ub97c \uae30\ub85d\ud588\ub2e4.<\/li>\n\n\n\n
  2. \uc5d0\ub108\uc9c0 \ubd80\ubb38 \ud751\uc790: 4\uc6d4 14\uc5b5 \ub2ec\ub7ec \ub3cc\ud30c
    \uc544\ub974\ud5e8\ud2f0\ub098 \uc5d0\ub108\uc9c0 \ubd80\ubb38\uc740 4\uc6d4\uc5d0 14\uc5b5200\ub9cc \ub2ec\ub7ec\uc758 \ubb34\uc5ed\ud751\uc790\ub97c \uae30\ub85d\ud558\uba70 \uc0ac\uc0c1 \ucd5c\uace0\uce58\ub97c \ub2ec\uc131\ud588\ub2e4. \uc774\ub294 \uc218\ucd9c \uae09\uc99d\uacfc \uc218\uc785 \uae09\uac10\uc774 \ub3d9\uc2dc\uc5d0 \ub098\ud0c0\ub09c \uacb0\uacfc\ub2e4. INDEC \uc790\ub8cc\uc5d0 \ub530\ub974\uba74 \uc5f0\ub8cc \ubc0f \uc5d0\ub108\uc9c0 \uc218\ucd9c\uc740 \uc804\ub144 \ub300\ube44 85.9% \uc99d\uac00\ud574 15\uc5b55,400\ub9cc \ub2ec\ub7ec\ub97c \uae30\ub85d\ud588\ub2e4. \uc911\ub3d9 \ubd84\uc7c1\uc73c\ub85c \uc778\ud55c \uad6d\uc81c \uc720\uac00 \uc0c1\uc2b9\uc774 \uc8fc\uc694 \uc6d0\uc778\uc73c\ub85c \uc9c0\ubaa9\ub410\ub2e4. \ubc18\uba74 \uc218\uc785\uc740 45.4% \uac10\uc18c\ud574 1\uc5b55,200\ub9cc \ub2ec\ub7ec\uc5d0 \uadf8\ucce4\ub2e4. \ud2b9\ud788 \uac00\uc194\ub9b0, \uc11d\uc720 \ud22c\uc785\uc7ac, \uac00\uc2a4\uc624\uc77c \uc218\uc785 \uac10\uc18c\uac00 \uc808\uac10 \ud6a8\uacfc\uc758 \ud575\uc2ec\uc774\uc5c8\ub2e4. \uc774\uc5d0 \ub530\ub77c \uc62c\ud574 1\ubd84\uae30 \uc5d0\ub108\uc9c0 \ubd80\ubb38 \ub204\uc801 \ud751\uc790\ub294 38\uc5b5 \ub2ec\ub7ec\ub97c \uae30\ub85d\ud588\ub2e4. \uc5d0\ub108\uc9c0 \uc218\ucd9c\uc740 \uad6d\uac00 \uc804\uccb4 \uc218\ucd9c\uc758 14.3%\ub97c \ucc28\uc9c0\ud558\uba70 2006\ub144 \uc774\ud6c4 \ucd5c\uace0 \ube44\uc911\uc744 \uae30\ub85d\ud588\ub2e4.<\/li>\n\n\n\n
  3. \uae08\uc735\uc2dc\uc7a5 \uc0c1\uc2b9: \uc544\ub974\ud5e8\ud2f0\ub098 \ucc44\uad8c\u00b7\uc8fc\uc2dd, \ub274\uc695\uc11c \ucd5c\ub300 7% \uc0c1\uc2b9
    \uae00\ub85c\ubc8c \uc2dc\uc7a5\uc758 \ubd88\uc548\uc774 \ub2e4\uc18c \uc9c4\uc815\ub418\uba74\uc11c \uc544\ub974\ud5e8\ud2f0\ub098 \uc790\uc0b0\uc740 \uac15\ud55c \ubc18\ub4f1\uc138\ub97c \ubcf4\uc600\ub2e4. \uc6d4\uac00\uc5d0\uc11c\ub294 \uc740\ud589\uc8fc \uc911\uc2ec\uc73c\ub85c \uc544\ub974\ud5e8\ud2f0\ub098 \uae30\uc5c5 \uc8fc\uc2dd\uc774 \uc0c1\uc2b9\ud588\ub2e4. BBVA\ub294 6.9%, Supervielle\uc740 6% \uc0c1\uc2b9\ud588\ub2e4. \ub2ec\ub7ec \ud45c\uc2dc \uad6d\ucc44 \uc5ed\uc2dc \ubbf8\uad6d \uad6d\ucc44 \uc218\uc775\ub960 \ud558\ub77d\uc5d0 \ud798\uc785\uc5b4 0.6~1.5% \uc0c1\uc2b9\ud588\ub2e4. \uc704\ud5d8 \ud68c\ud53c \uc2ec\ub9ac \uc644\ud654\ub85c \uc2e0\ud765\uc2dc\uc7a5 \uc790\uc0b0\uc774 \uc218\ud61c\ub97c \uc785\uc5c8\uace0, \uad6d\uac00\uc704\ud5d8\uc9c0\uc218\ub294 4% \ud558\ub77d\ud574 524bp\ub85c \ub9c8\uac10\ud588\ub2e4. \ubbf8\uad6d \uc99d\uc2dc \uc8fc\uc694 \uc9c0\uc218\ub3c4 \uc0c1\uc2b9\uc138\ub97c \ubcf4\uc600\uc73c\uba70, \ub098\uc2a4\ub2e5\uc740 1.54%, \ub2e4\uc6b0\uc874\uc2a4\ub294 1.31%, S&P500\uc740 1.08% \uc0c1\uc2b9\ud588\ub2e4.<\/li>\n\n\n\n
  4. BCRA \uac15\ud55c \ub9e4\uc218\uc138: 3\uc5b52,800\ub9cc \ub2ec\ub7ec \ub9e4\uc785, \uc678\ud658\ubcf4\uc720\uace0 \ucd5c\uace0\uce58
    \uc544\ub974\ud5e8\ud2f0\ub098 \uc911\uc559\uc740\ud589(BCRA)\uc740 \uc678\ud658\uc2dc\uc7a5\uc5d0\uc11c 3\uc5b52,800\ub9cc \ub2ec\ub7ec\ub97c \ub9e4\uc785\ud558\uba70 \uacf5\uaca9\uc801\uc778 \ub2ec\ub7ec \ub9e4\uc218\uc5d0 \ub098\uc130\ub2e4. \uc774\ub294 \ud55c \ub2ec\uc5ec \ub9cc\uc5d0 \ucd5c\ub300 \uaddc\ubaa8\uc758 \uc77c\uc77c \uc21c\ub9e4\uc218\uc600\ub2e4. 5\uc6d4 20\uc77c \uae30\uc900 \uc911\uc559\uc740\ud589\uc758 \uc21c\ub9e4\uc218 \uaddc\ubaa8\ub294 16\uc5b51,600\ub9cc \ub2ec\ub7ec\uc5d0 \ub3c4\ub2ec\ud588\ub2e4. 2026\ub144 \ub4e4\uc5b4 \ub204\uc801 \uc21c\ub9e4\uc218\ub294 87\uc5b5200\ub9cc \ub2ec\ub7ec\uc5d0 \uc774\ub974\uba70, \ub18d\uc0b0\ubb3c \uc218\ucd9c \uc99d\uac00\uac00 \uc774\ub97c \ub4b7\ubc1b\uce68\ud588\ub2e4. \uad6d\uc81c\ucd1d\uc678\ud658\ubcf4\uc720\uace0\ub294 \ud558\ub8e8 \ub3d9\uc548 3\uc5b59,300\ub9cc \ub2ec\ub7ec \uc99d\uac00\ud574 465\uc5b58,300\ub9cc \ub2ec\ub7ec\ub97c \uae30\ub85d\ud588\ub2e4. \uc774\ub294 2\uc6d4 \uc774\ud6c4 \ucd5c\uace0 \uc218\uc900\uc774\ub2e4. \uc678\ud658\ubcf4\uc720\uace0 \uc99d\uac00\ub294 \uacf5\uc2dd \uc678\ud658\uc2dc\uc7a5 \uac1c\uc785\uacfc \ud568\uaed8 \uc911\uc559\uc740\ud589\uc774 \ubcf4\uc720\ud55c \uae08\uc735\uc790\uc0b0 \uac00\uce58 \uc0c1\uc2b9\uc758 \uc601\ud5a5\ub3c4 \uc788\uc5c8\ub2e4.
    \uc774\uc640\uad00\ub828 iProfesional \uc9c0\uc5d0 \uac8c\uc7ac\ub41c \ubcf4\ub3c4\uc5d0\uc11c\ub294 \ub2e4\uc74c\uacfc \uac19\uc774 \uc5b8\uae09\ud588\ub2e4.
    \u201c\uc774\ub7ec\ud55c \uc678\ud658 \ucd95\uc801\uacfc \uc778\ud50c\ub808\uc774\uc158 \ud1b5\uc81c\ub97c \uc720\uc9c0\ud558\uae30 \uc704\ud574 \uc7ac\ubb34\uccad\uc740 \ud604\uc9c0 \ud1b5\ud654 \ud45c\uc2dc \ubd80\ucc44 \ubc1c\ud589\uc744 \ud1b5\ud574 \uc2dc\uc911 \uc720\ub3d9\uc131\uc744 \ud761\uc218\ud588\ub2e4. \uacf5\uc2dd \uc804\ub9dd\uc740 \uc62c\ud574 100\uc5b5~170\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8\uc758 \uc678\ud658 \ub9e4\uc785 \uac00\ub2a5\uc131\uc744 \uc608\uc0c1\ud558\uace0 \uc788\uc73c\uba70, \uc774\ub294 \ud5a5\ud6c4 \ud574\uc678 \ud68c\uc0ac\ucc44 \ubc0f \uc9c0\ubc29\ucc44 \ubc1c\ud589\uc73c\ub85c\ub3c4 \ubcf4\uc644\ub420 \uc804\ub9dd\uc774\ub2e4.\u201d<\/li>\n\n\n\n
  5. \uc0c1\uc2b9 \uc81c\ub3d9: \ub18d\uc5c5 \ub2ec\ub7ec \uc720\uc785\uc73c\ub85c \uacf5\uc2dd\ud658\uc728 \uc548\uc815
    \uacf5\uc2dd \ub2ec\ub7ec \ud658\uc728\uc740 3\uc77c \uc5f0\uc18d \uc0c1\uc2b9\uc138\ub97c \uba48\ucd94\uace0 1,397\ud398\uc18c\uc5d0 \ub9c8\uac10\ud588\ub2e4. \uc774\ub294 \ub300\uaddc\ubaa8 \ub18d\uc0b0\ubb3c \uc218\ucd9c \uacb0\uc81c \uc601\ud5a5 \ub54c\ubb38\uc774\ub2e4. \ud658\uc728\uc740 \uc911\uc559\uc740\ud589\uc774 \uc124\uc815\ud55c \ubcc0\ub3d9 \ubc34\ub4dc \uc0c1\ub2e8\uc778 1,740.36\ud398\uc18c\ubcf4\ub2e4 \uc5ec\uc804\ud788 \ub0ae\uc740 \uc218\uc900\uc774\ub2e4. \uae08\uc735\uc2dc\uc7a5\uc5d0\uc11c\ub294 MEP \ud658\uc728\uc740 1,429.6\ud398\uc18c, CCL \ud658\uc728\uc740 1,498.6\ud398\uc18c\uc5d0 \uac70\ub798\ub410\ub2e4. \ud604\ubb3c\uc2dc\uc7a5\uc740 4\uc5b58,150\ub9cc \ub2ec\ub7ec \uaddc\ubaa8\uc758 \uac70\ub798\ub7c9\uc744 \uae30\ub85d\ud588\ub2e4. \uc120\ubb3c\ud658 \uc2dc\uc7a5\uc5d0\uc11c\ub294 \uc5f0\ub9d0 \uae30\uc900 1,618.5\ud398\uc18c \uc218\uc900\uc774 \uc608\uc0c1\ub418\uace0 \uc788\ub2e4. \uc2dc\uc7a5\uc740 \uc911\uc559\uc740\ud589\uc774 \ud558\ubc18\uae30 \uc678\ud658\ubcf4\uc720\uace0\ub97c \ucd94\uac00 \ucd95\uc801\ud560 \uc218 \uc788\ub3c4\ub85d \ub18d\uc5c5 \ubd80\ubb38\uc758 \uc678\ud654 \uc720\uc785\uc774 \uacc4\uc808\uc801\uc73c\ub85c \uc99d\uac00\ud560 \uac83\uc73c\ub85c \ubcf4\uace0 \uc788\ub2e4. \uadf8\ub7ec\ub098 \ud1b5\ud654 \uc218\uc694 \ud68c\ubcf5 \uc9c0\uc5f0\uacfc \uc2e4\uc9c8\uae08\ub9ac\uc758 \ub9c8\uc774\ub108\uc2a4 \uc0c1\ud0dc\ub294 \uc5ec\uc804\ud788 \uacf5\uc2dd \ud658\uc728 \uc815\ucc45\uc758 \uc8fc\uc694 \uacfc\uc81c\ub85c \uc9c0\uc801\ub41c\ub2e4. \ud604\uc7ac \uac1c\uc778 \uc815\uae30\uc608\uae08 \uae08\ub9ac\ub294 \uc5f0 23% \uc218\uc900\uc73c\ub85c, 2026\ub144 \uc608\uc0c1 \uc778\ud50c\ub808\uc774\uc158\uc744 \ubc11\ub3cc\uace0 \uc788\ub2e4.<\/li>\n\n\n\n
  6. \uc6d4\uac00 \ud558\ub77d: \uae00\ub85c\ubc8c \uacbd\uacc4\uc2ec\uacfc \uc5d0\ub108\uc9c0 \ube44\uc6a9 \uc0c1\uc2b9 \uc2dc\uc7a5 \uc555\ubc15
    \ub274\uc695 \uc99d\uc2dc\ub294 \uc774\ubc88 \uc8fc \ubaa9\uc694\uc77c \ud504\ub9ac\ub9c8\ucf13\uc5d0\uc11c \ud558\ub77d\uc138\ub97c \ubcf4\uc600\ub2e4. \ud22c\uc790\uc790\ub4e4\uc740 \ucd5c\uadfc \uc9c0\uc815\ud559\uc801 \uae34\uc7a5\uacfc \ub192\uc740 \uc5d0\ub108\uc9c0 \ube44\uc6a9 \uc601\ud5a5\uc744 \ud3c9\uac00\ud558\uace0 \uc788\ub2e4. \uae30\uc220\uc8fc \uc5d4\ube44\ub514\uc544\uc758 \uc2e4\uc801 \ubc1c\ud45c \uc774\ud6c4 \ub098\uc2a4\ub2e5 \uc120\ubb3c\uc740 0.43%, S&P500 \uc120\ubb3c\uc740 0.26%, \ub2e4\uc6b0\uc874\uc2a4 \uc120\ubb3c\uc740 0.21% \ud558\ub77d\ud588\ub2e4. \uad6d\uc81c\uc801\uc73c\ub85c\ub294 \ud30c\ud0a4\uc2a4\ud0c4 \uc678\uad50\ub2f9\uad6d\uc774 \ubbf8\uad6d\uc5d0 \uc774\ub780 \uce21\uc758 \uacf5\uaca9 \uac00\ub2a5\uc131\uc744 \uacbd\uace0\ud55c \uac83\uc73c\ub85c \uc54c\ub824\uc84c\ub2e4. \uc5ec\uae30\uc5d0 \ud638\ub974\ubb34\uc988 \ud574\ud611 \ubd09\uc1c4 \uc6b0\ub824\uae4c\uc9c0 \ub354\ud574\uc9c0\uba70 \uad6d\uc81c\uc720\uac00\ub294 \uae09\ub4f1\ud588\ub2e4. \ube0c\ub80c\ud2b8\uc720\ub294 \ubc30\ub7f4\ub2f9 106.8\ub2ec\ub7ec, WTI\ub294 100.5\ub2ec\ub7ec\ub97c \ub118\uc5b4\uc130\ub2e4. \uae00\ub85c\ubc8c \uc778\ud50c\ub808\uc774\uc158 \uc7ac\uc0c1\uc2b9 \uc6b0\ub824\ub3c4 \ucee4\uc9c0\uba74\uc11c \ubbf8\uad6d 10\ub144\ubb3c \uad6d\ucc44 \uc218\uc775\ub960\uc740 4.61%\uae4c\uc9c0 \uc0c1\uc2b9\ud588\ub2e4.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    \uc624\ub298\uc758 \uacbd\uc81c<\/p>\n","protected":false},"author":6,"featured_media":12796,"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-12795","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\/12795","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=12795"}],"version-history":[{"count":1,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/12795\/revisions"}],"predecessor-version":[{"id":12797,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/12795\/revisions\/12797"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/media\/12796"}],"wp:attachment":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}