{"id":13030,"date":"2026-06-09T18:40:00","date_gmt":"2026-06-09T21:40:00","guid":{"rendered":"https:\/\/hanin.org.ar\/?p=13030"},"modified":"2026-06-09T18:40:03","modified_gmt":"2026-06-09T21:40:03","slug":"%ec%98%a4%eb%8a%98%ec%9d%98-%ea%b2%bd%ec%a0%9c06%ec%9b%94-09%ec%9d%bc-2","status":"publish","type":"post","link":"https:\/\/hanin.org.ar\/?p=13030","title":{"rendered":"\uc624\ub298\uc758 \uacbd\uc81c(06\uc6d4 09\uc77c)"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

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

    \n
  1. \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4\uc2dc \ubb3c\uac00\uc0c1\uc2b9\ub960, 5\uc6d4 2.1%
    \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4\uc2dc\uc758 5\uc6d4 \uc778\ud50c\ub808\uc774\uc158\uc740 2.1%\ub97c \uae30\ub85d\ud558\uba70 \uc804\uc6d4 \ub300\ube44 0.4%\ud3ec\uc778\ud2b8 \ud558\ub77d\ud588\uc2b5\ub2c8\ub2e4.
    \uc774\ub85c\uc368 \uc62c\ud574 \ub204\uc801 \uc778\ud50c\ub808\uc774\uc158\uc740 14%\uac00 \ub418\uc5c8\uc2b5\ub2c8\ub2e4.
    \uc2dd\ud488, \uc8fc\uac70, \ubcf4\uac74, \uad50\uc721 \ubd80\ubb38\uc774 \uc804\uccb4 \ubb3c\uac00 \uc0c1\uc2b9\uc758 \uc57d 65%\ub97c \ucc28\uc9c0\ud588\uc2b5\ub2c8\ub2e4. \ud2b9\ud788 \uc2dd\ud488 \uac00\uaca9\uc740 2.8% \uc0c1\uc2b9\ud574 \uc804\uccb4 \ud3c9\uade0\uc744 \uc6c3\ub3cc\uc558\uc2b5\ub2c8\ub2e4.
    \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4\uc2dc\uc758 \ubb3c\uac00 \uc9c0\ud45c\ub294 \uc804\ud1b5\uc801\uc73c\ub85c \uad6d\uac00 \uc778\ud50c\ub808\uc774\uc158\uc758 \uc120\ud589\uc9c0\ud45c \uc5ed\ud560\uc744 \ud569\ub2c8\ub2e4. INDEC(\uad6d\uac00\ud1b5\uacc4\uccad)\ub294 \uc774\ubc88 \uc8fc \ubaa9\uc694\uc77c \uc804\uad6d \uc778\ud50c\ub808\uc774\uc158\uc744 \ubc1c\ud45c\ud560 \uc608\uc815\uc785\ub2c8\ub2e4.
    \uc2dc\uc7a5 \uc804\ubb38\uac00\ub4e4\uc740 \uc804\uad6d \uc778\ud50c\ub808\uc774\uc158\ub3c4 \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4\uc2dc\uc640 \ub9c8\ucc2c\uac00\uc9c0\ub85c \ub454\ud654 \ucd94\uc138\ub97c \ubcf4\uc77c \uac83\uc73c\ub85c \uc608\uc0c1\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.
    \uc804\uc6d4 \uc804\uad6d \uc778\ud50c\ub808\uc774\uc158\uc740 2.6%\uc600\uc73c\uba70, \uc62c\ud574 \ucc98\uc74c\uc73c\ub85c 3% \uc544\ub798\ub85c \ub5a8\uc5b4\uc9c4 \ubc14 \uc788\uc2b5\ub2c8\ub2e4.<\/li>\n\n\n\n
  2. \uc6d4\uac00 \ubc18\ub4f1\uacfc \uc720\uac00 \uc0c1\uc2b9, \uc544\ub974\ud5e8\ud2f0\ub098 \uc790\uc0b0 \ub04c\uc5b4\uc62c\ub824
    \uae30\uc220\uc8fc \uc911\uc2ec\uc758 \uac15\ud55c \ubc18\ub4f1\uc774 \uc6d4\uac00\uc5d0\uc11c \ub098\ud0c0\ub098\uba74\uc11c \uc544\ub974\ud5e8\ud2f0\ub098 \uae08\uc735\uc2dc\uc7a5\uc5d0\ub3c4 \uae0d\uc815\uc801\uc778 \uc601\ud5a5\uc744 \ubbf8\ucce4\uc2b5\ub2c8\ub2e4.
    \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4 \uc99d\uad8c\uac70\ub798\uc18c\uc758 S&P Merval \uc9c0\uc218\ub294 0.9% \uc0c1\uc2b9\ud588\uc2b5\ub2c8\ub2e4.
    \ub2ec\ub7ec \ud45c\uc2dc \uad6d\ucc44\ub294 \ud3c9\uade0 0.1% \uc0c1\uc2b9\ud588\uc2b5\ub2c8\ub2e4.
    \uc774\uc5d0 \ub530\ub77c JP\ubaa8\uac74\uc774 \uc0b0\ucd9c\ud558\ub294 \uad6d\uac00\uc704\ud5d8\uc9c0\uc218\ub294 1bp \ud558\ub77d\ud55c 493bp\ub97c \uae30\ub85d\ud588\uc2b5\ub2c8\ub2e4.
    \ubbf8\uad6d\uc758 \uac15\ud55c \uace0\uc6a9\uc9c0\ud45c\ub85c \uc778\ud574 \uc5f0\ubc29\uc900\ube44\uc81c\ub3c4(Fed)\uc758 \uae08\ub9ac \uc778\uc0c1 \uac00\ub2a5\uc131\uc774 \uc81c\uae30\ub418\uc5c8\uc74c\uc5d0\ub3c4 \uae00\ub85c\ubc8c \ud22c\uc790\uc2ec\ub9ac\ub294 \uc720\uc9c0\ub418\uc5c8\uc2b5\ub2c8\ub2e4.
    \uad6d\uc81c\uc2dc\uc7a5\uc5d0\uc11c\ub294 \uc774\ub780\uacfc \uc774\uc2a4\ub77c\uc5d8 \uac04 \uad70\uc0ac\uc801 \uae34\uc7a5 \uace0\uc870\ub85c \uad6d\uc81c\uc720\uac00\uac00 \uc57d 1% \uc0c1\uc2b9\ud588\uc2b5\ub2c8\ub2e4.
    \uc720\uac00 \uc0c1\uc2b9\uc740 \uc544\ub974\ud5e8\ud2f0\ub098\uc758 \uc5d0\ub108\uc9c0 \uae30\uc5c5\uc778 YPF, Tenaris, Pampa Energ\u00eda \uc8fc\uac00 \uc0c1\uc2b9\uc744 \uc774\ub04c\uc5c8\uc2b5\ub2c8\ub2e4.<\/li>\n\n\n\n
  3. \ub3c4\ub9e4 \ub2ec\ub7ec \ud658\uc728, 4\uac1c\uc6d4 \ub9cc\uc5d0 \ucd5c\uace0\uce58 \uae30\ub85d
    \ub3c4\ub9e4 \ub2ec\ub7ec \ud658\uc728\uc740 6\ud398\uc18c \uc0c1\uc2b9\ud55c 1\ub2ec\ub7ec\ub2f9 1,446.50\ud398\uc18c\ub85c \ub9c8\uac10\ud588\uc2b5\ub2c8\ub2e4.
    \uc774\ub294 2\uc6d4 \ucd08 \uc774\ud6c4 \uac00\uc7a5 \ub192\uc740 \uc218\uc900\uc785\ub2c8\ub2e4.
    6\uc6d4 \ub4e4\uc5b4 \uacf5\uc2dd\ud658\uc728\uc740 \ub204\uc801 2.7% \uc0c1\uc2b9\ud588\uc2b5\ub2c8\ub2e4.
    \ud604\ubb3c\uc2dc\uc7a5 \uac70\ub798\ub7c9\uc740 \uc9c1\uc804 \uac70\ub798\uc77c \ub300\ube44 38% \uae09\uac10\ud588\uc2b5\ub2c8\ub2e4.
    CCL \ud658\uc728\uc740 1\ub2ec\ub7ec\ub2f9 1,520\ud398\uc18c\uc5d0 \uadfc\uc811\ud558\uba70 1\uc6d4 \ub9d0 \uc774\ud6c4 \ucd5c\uace0 \uc218\uc900\uc744 \uae30\ub85d\ud588\uc2b5\ub2c8\ub2e4.
    \uac70\ub798\ub7c9 \uac10\uc18c\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 \uc911\uc559\uc740\ud589(BCRA)\uc740 \uc2dc\uc7a5 \uac1c\uc785\uc744 \ud1b5\ud574 7,100\ub9cc \ub2ec\ub7ec\ub97c \uc21c\ub9e4\uc785\ud588\uc2b5\ub2c8\ub2e4.
    \uc774\ub85c\uc368 6\uc6d4 \ub204\uc801 \uc21c\ub9e4\uc785 \uaddc\ubaa8\ub294 5\uc5b5 800\ub9cc \ub2ec\ub7ec\uac00 \ub418\uc5c8\uc2b5\ub2c8\ub2e4.
    \ubc18\uba74 \ucd1d\uc678\ud658\ubcf4\uc720\uc561\uc740 6,900\ub9cc \ub2ec\ub7ec \uac10\uc18c\ud55c 477\uc5b5 9,800\ub9cc \ub2ec\ub7ec\ub97c \uae30\ub85d\ud588\uc2b5\ub2c8\ub2e4.<\/li>\n\n\n\n
  4. \uc815\ubd80, \ub300\uae30\uc5c5 \uc138\uc81c \ud61c\ud0dd \ud655\ub300
    \uacbd\uc81c\ubd80\ub294 [\uc7ac\uc815 \uccad\ub834\ubc95] \uac1c\uc815\uc548\uc744 \ub9c8\ubb34\ub9ac\ud588\uc2b5\ub2c8\ub2e4.
    \uac1c\uc815\uc548\uc740 \ub9e4\ucd9c\uc561\uacfc \uc790\uc0b0 \uaddc\ubaa8\uc5d0 \ub300\ud55c \uc81c\ud55c\uc744 \ud3d0\uc9c0\ud558\ub294 \ub0b4\uc6a9\uc744 \ub2f4\uace0 \uc788\uc2b5\ub2c8\ub2e4.
    \uac04\uc18c\ud654\ub41c \uc18c\ub4dd\uc138 \uc81c\ub3c4\ub97c \ub300\uae30\uc5c5\uc5d0\ub3c4 \ud655\ub300 \uc801\uc6a9\ud558\uc9c0\ub9cc, \uacfc\uac70 \ud68c\uacc4\uc5f0\ub3c4\uc5d0 \ub300\ud55c \uc138\ubb34\uc870\uc0ac \uba74\ucc45 \ud61c\ud0dd\uc740 \ubd80\uc5ec\ub418\uc9c0 \uc54a\uc2b5\ub2c8\ub2e4.
    \uac1c\uc815\uc548\uc740 \ubc95\ub960 \uc81c27,799\ud638\ub97c \uc218\uc815\ud558\uba70 2025\ub144 1\uc6d4\ubd80\ud130 \uc18c\uae09 \uc801\uc6a9\ub429\ub2c8\ub2e4.
    \ub610\ud55c ARCA(\uc138\uae08\uad00\uc138\uad00\ub9ac\uccad)\uc758 \uc138\ubb34\uc870\uc0ac \uc2dc \uc801\uc6a9\ub418\ub294 “\uc911\ub300\ud55c \ubd88\uc77c\uce58” \uae30\uc900\ub3c4 \uc644\ud654\ub429\ub2c8\ub2e4.
    \uc55e\uc73c\ub85c\ub294 ARCA\uac00 \ud0c8\uc138 \uc0ac\uc2e4\uc744 \uc785\uc99d\ud574\uc57c \ud558\uba70,
    \ubc1c\uacac\ub41c \ucc28\uc774\uac00 500\ub9cc \ud398\uc18c \ubbf8\ub9cc\uc774\uac70\ub098 \ub0a9\uc138\uc790\uac00 \ubd80\uacfc\ub41c \uc138\uae08\uc744 \ub0a9\ubd80\ud560 \uacbd\uc6b0 \uc81c\uc7ac\uac00 \uc801\uc6a9\ub418\uc9c0 \uc54a\uc2b5\ub2c8\ub2e4.
    \ub610\ud55c \uc2e0\uace0\ub418\uc9c0 \uc54a\uc740 \ub2ec\ub7ec \uc790\uae08\uc744 \uc138\uae08 \ub0a9\ubd80\uc5d0 \ud65c\uc6a9\ud560 \uc218 \uc788\ub294 \uc81c\ub3c4\ub97c 2027\ub144 12\uc6d4\uae4c\uc9c0 \uc5f0\uc7a5\ud569\ub2c8\ub2e4.
    \ub2e4\ub9cc \uc218\ud61c\uc790\ub294 \uc544\ub974\ud5e8\ud2f0\ub098 \uc138\ubc95\uc0c1 \uac70\uc8fc\uc790 \uc790\uaca9\uc744 \uc720\uc9c0\ud574\uc57c \ud569\ub2c8\ub2e4.<\/li>\n\n\n\n
  5. \uc815\ubd80\uc758 \ub9cc\uae30 \uc5f0\uc7a5 \ubc0f \uc678\ud654 \uc870\ub2ec \uc804\ub7b5
    \uc815\ubd80\ub294 \uad6d\ucc44 \ubc1c\ud589\uc744 \ud1b5\ud574 \ubd80\ucc44 \uad6c\uc870\ub97c \uc7ac\uc870\uc815\ud558\uace0 \uc678\ud654\ub97c \ud655\ubcf4\ud558\ub824 \ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.
    \uc7ac\ubb34\uccad\uc740 \ub0b4\uc77c 5\uc870 3\ucc9c\uc5b5 \ud398\uc18c \uaddc\ubaa8\uc758 \ub9cc\uae30 \ub3c4\ub798 \ucc44\ubb34\ub97c \ucc28\ud658\ud558\uae30 \uc704\ud55c \uc911\uc694\ud55c \uc785\ucc30\uc744 \uc2e4\uc2dc\ud569\ub2c8\ub2e4.
    \uc815\ubd80\ub294 \ub9cc\uae30\ub97c \uc7a5\uae30\ud654\ud558\ub294 \ub3d9\uc2dc\uc5d0 \ucd5c\ub300 3\uc5b5 \ub2ec\ub7ec\uc758 \uc678\ud654\ub97c \ud655\ubcf4\ud558\ub294 \uac83\uc744 \ubaa9\ud45c\ub85c \ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.
    \uc774\ub97c \uc704\ud574 \ub2e4\uc591\ud55c \uae08\uc735\uc0c1\ud488\uc744 \uc81c\uc2dc\ud588\uc2b5\ub2c8\ub2e4.
    2030\ub144\uae4c\uc9c0 \ub9cc\uae30\uc758 \uc778\ud50c\ub808\uc774\uc158 \uc5f0\ub3d9 \ub610\ub294 \ubcc0\ub3d9\uae08\ub9ac\ud615 \ub4c0\uc5bc\ucc44\uad8c 3\uc885\uc774 \ud3ec\ud568\ub429\ub2c8\ub2e4.
    \ub610\ud55c \ub2ec\ub7ec \uc5f0\ub3d9 \ub2e8\uae30\ucc44\ub3c4 \ubc1c\ud589\ub429\ub2c8\ub2e4.
    \uc678\ud654 \ud22c\uc790\uc790\ub4e4\uc5d0\uac8c \uac00\uc7a5 \ud070 \uad00\uc2ec\uc740 \ucfe0\ud3f0\uae08\ub9ac 6%\uc758 Bonar 2028 \uad6d\ucc44 \uc7ac\ubc1c\ud589\uc785\ub2c8\ub2e4.
    \ud574\ub2f9 \ucc44\uad8c\uc740 \ubaa9\uc694\uc77c \ucd94\uac00 \uc785\ucc30\ub3c4 \uc608\uc815\ub418\uc5b4 \uc788\uc2b5\ub2c8\ub2e4.
    \uc544\uc6b8\ub7ec \ubc95\ub839 846\/24\uc5d0 \uadfc\uac70\ud574 \uc774\ub2ec \ub9d0 \ub9cc\uae30 \ucc44\uad8c\uc5d0 \ub300\ud55c \uc790\ubc1c\uc801 \uad50\ud658 \ud504\ub85c\uadf8\ub7a8\ub3c4 \uc2dc\ud589\ub429\ub2c8\ub2e4.
    \uc2dc\uc7a5\uc5d0\uc11c\ub294 \uc720\ub3d9\uc131\uc774 \ud48d\ubd80\ud574 \uc785\ucc30\uc774 \ubb34\ub09c\ud788 \uc9c4\ud589\ub420 \uac83\uc73c\ub85c \uc608\uc0c1\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.
    \uc815\ubd80\uc758 \ubaa9\ud45c\ub294 \uc7ac\ubb34\uccad\uc758 \uc21c\uc870\ub2ec \uaddc\ubaa8\ub97c \ud50c\ub7ec\uc2a4\ub85c \uc720\uc9c0\ud558\ub294 \uac83\uc785\ub2c8\ub2e4.<\/li>\n\n\n\n
  6. \uad11\uc5c5\uacfc \uc11d\uc720\u00b7\uac00\uc2a4 \uc0b0\uc5c5 \uc131\uc7a5\uc138 \uc9c0\uc18d
    \uc544\ub974\ud5e8\ud2f0\ub098 \uad11\uc5c5 \uc0dd\uc0b0\uc740 2026\ub144 4\uc6d4 \uae30\uc900 \uc804\ub144 \ub3d9\uae30 \ub300\ube44 9.5% \uc99d\uac00\ud588\uace0 \uc804\uc6d4 \ub300\ube44\ub85c\ub3c4 0.7% \uc99d\uac00\ud588\uc2b5\ub2c8\ub2e4.
    \uc62c\ud574 1~4\uc6d4 \ub204\uc801 \uc131\uc7a5\ub960\uc740 7.4%\ub97c \uae30\ub85d\ud588\uc2b5\ub2c8\ub2e4.
    \uac00\uc7a5 \ub192\uc740 \uc131\uc7a5\ub960\uc744 \ubcf4\uc778 \ubd84\uc57c\ub294 \uc18c\uae08 \uc0dd\uc0b0\uc73c\ub85c 150.3% \uc99d\uac00\ud588\uc2b5\ub2c8\ub2e4.
    \ud654\ud559\uc81c\ud488\uc6a9 \uad11\ubb3c \uc0dd\uc0b0\ub3c4 73% \uc99d\uac00\ud588\uc2b5\ub2c8\ub2e4.
    \ud2b9\ud788 \ud0c4\uc0b0\ub9ac\ud2ac \uc0dd\uc0b0\uc740 79% \uc99d\uac00\ud558\uba70 \uc544\ub974\ud5e8\ud2f0\ub098 \uacbd\uc81c \uc131\uc7a5\uc758 \ud575\uc2ec \ub3d9\ub825\uc73c\ub85c \uc790\ub9ac \uc7a1\uace0 \uc788\uc2b5\ub2c8\ub2e4.
    \uc11d\uc720\u00b7\uac00\uc2a4 \ubd80\ubb38 \uc5ed\uc2dc \ube44\uc804\ud1b5 \uc790\uc6d0(\uc170\uc77c\uc624\uc77c\u00b7\uc170\uc77c\uac00\uc2a4) \uac1c\ubc1c \ud655\ub300\uc5d0 \ud798\uc785\uc5b4 \uac15\ud55c \uc131\uc7a5\uc138\ub97c \ubcf4\uc600\uc2b5\ub2c8\ub2e4.
    \uc6d0\uc720 \uc0dd\uc0b0\uc740 \uc804\ub144 \ub300\ube44 19.1% \uc99d\uac00\ud588\uc2b5\ub2c8\ub2e4.
    \ube44\uc804\ud1b5 \uc6d0\uc720 \uc0dd\uc0b0\uc740 \ubb34\ub824 39.2% \uc99d\uac00\ud588\uc2b5\ub2c8\ub2e4.
    \ubc18\uba74 \uc5d0\ub108\uc9c0 \uc9c0\uc6d0 \uc11c\ube44\uc2a4\uc640 \uc11d\ud0c4 \ucc44\uad74 \ubd80\ubb38\uc740 \uac10\uc18c\uc138\ub97c \ubcf4\uc600\uc2b5\ub2c8\ub2e4.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    \uc624\ub298\uc758 \uacbd\uc81c<\/p>\n","protected":false},"author":6,"featured_media":13031,"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-13030","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\/13030","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=13030"}],"version-history":[{"count":1,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/13030\/revisions"}],"predecessor-version":[{"id":13032,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/13030\/revisions\/13032"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/media\/13031"}],"wp:attachment":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}