{"id":9331,"date":"2025-09-12T19:43:42","date_gmt":"2025-09-12T22:43:42","guid":{"rendered":"https:\/\/hanin.org.ar\/?p=9331"},"modified":"2025-09-12T19:43:43","modified_gmt":"2025-09-12T22:43:43","slug":"%ec%98%a4%eb%8a%98%ec%9d%98-%ea%b2%bd%ec%a0%9c09%ec%9b%94-12%ec%9d%bc","status":"publish","type":"post","link":"https:\/\/hanin.org.ar\/?p=9331","title":{"rendered":"\uc624\ub298\uc758 \uacbd\uc81c(09\uc6d4 12\uc77c)"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

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

    \n
  1. \ud1b5\ud654 \uc815\ucc45 \uc644\ud654
    \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4 \uc8fc\uc758 \uc120\uac70 \ud328\ubc30 \uc774\ud6c4, \uacbd\uc81c\ud300\uc758 \uc815\ucc45 \ubcc0\ud654\ub294 \uae08\uc735 \uc2dc\uc7a5\uc758 \uc8fc\uc694 \ubcc0\uc218\ub85c \ubc18\uc601\ub418\uae30 \uc2dc\uc791\ud588\ub2e4.
    \uc5b4\uc81c \ud558\ub8e8\uc9dc\ub9ac \ucf5c\uba38\ub2c8\ub294 31.5%\ub85c \ud558\ub77d\ud588\uace0, \ud398\uc18c\ud654 \uc218\uc775\ub960 \uace1\uc120\uc740 \uc5f0 42~55% \uc0ac\uc774\uc5d0 \ud615\uc131\ub418\uc5c8\ub2e4.
    \ucc44\uad8c\uc740 \ucd5c\ub300 2.2% \uc0c1\uc2b9\ud588\uace0, \uc911\uc559\uc740\ud589 \uae30\uc900\uae08\ub9ac\ub294 \uc5f0 35%\ub85c \uc720\uc9c0\ud588\ub2e4.
    \uc774\ubc88 \uc870\uce58\ub294 \uc120\uac70 \uc804\uc5d0 \uc2dc\ud589\ud55c \ud1b5\ud654 \uae34\ucd95 \uc774\ud6c4, \uc57d\uac04\uc758 \uc5ed\ub3d9\uc131\uc744 \ucc3e\uae30 \uc704\ud55c \uc804\ub7b5\uc774\ub2e4.
    \uc678\ud658 \uc2dc\uc7a5\uc5d0 \ubbf8\uce58\ub294 \uc601\ud5a5\uc740 \ubbf8\ubbf8\ud588\ub2e4.
    \uc720\ub3d9\uc131 \uc99d\uac00\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 \uc18c\ub9e4\ud658\uc728\uc740 1,445 \ud398\uc18c\ub85c \ub9c8\uac10\ud588\ub2e4.
    \uadf8\ub7f0 \ub9e5\ub77d\uc5d0\uc11c 8\uc6d4 \uc778\ud50c\ub808\uc774\uc158 1.9%\ub294 7\uc6d4 \ud658\uc728\uc774 14% \uae09\ub4f1\ud588\uc9c0\ub9cc, \ubb3c\uac00\uc5d0 \uc804\uc774\uac00 \uc81c\ud55c\uc801\uc774\uc5c8\uc74c\uc744 \ud655\uc778\uc2dc\ucf1c \uc8fc\uc5c8\ub2e4.
    \uc774\ub7f0 \uc0ac\uc2e4\uc740 \ud658\uc728 \uc0c1\uc2b9\uc744 \ucd09\ubc1c\ud558\uc9c0 \uc54a\uace0, \ud1b5\ud654 \uae34\ucd95\uc744 \uc644\ud654\ud560 \uc218 \uc788\ub2e4\ub294 \ud589\uc815\ubd80\uc758 \uc804\ub9dd\uc744 \uac15\ud654\ud55c\ub2e4.
    \uc774\uc81c \uc2dc\uc7a5\uc758 \uad00\uc2ec\uc740 \ubc00\ub808\uc774 \ub300\ud1b5\ub839\uc774 \uc55e\uc73c\ub85c \uba87 \ub2ec \ub3d9\uc548\uc758 \uacbd\uc81c \uc815\ucc45\uc744 \uc5b4\ub5bb\uac8c \ud560\uc9c0\uc5d0 \uc911\uc694\ud55c \ubd80\ubd84\uc778 2026\ub144 \uc608\uc0b0\uc548 \ucd08\uc548\uc744 \ubc1c\ud45c\ud558\ub294 \uc6d4\uc694\uc77c\uc5d0 \uc3e0\ub824\uc788\ub2e4.<\/li>\n\n\n\n
  2. \uc911\uc559\uc740\ud589 \ud574\uc678 \ubc0f \uc7a5\uae30 \ub300\ucd9c \uc694\uac74 \uc644\ud654
    \uc911\uc559\uc740\ud589\uc740 \uc678\uad6d \uc790\uae08\uc758 \uc720\uc785\uc744 \uc6d0\ud65c\ud558\uae30 \uc704\ud574 \ud658\uc728 \uaddc\uc815\uc758 \uc8fc\uc694 \uc0ac\ud56d\uc744 \ubcc0\uacbd\ud588\ub2e4.
    \ud574\uc678\uc5d0\uc11c \ucd5c\uc18c 12\uac1c\uc6d4 \uc774\uc0c1 \uc608\uce58\ud560 \uacbd\uc6b0, \uc0c8\ub85c\uc6b4 \ud658\uc728 \uc81c\ud55c \uc870\uce58\ub97c \uba74\uc81c\ud558\uae30\ub85c \ud588\ub2e4.
    \uc774\ubc88 \uc870\uce58\ub294 \uae08\uc735\uae30\uad00\uc758 \ud658\uc728 \ud22c\uae30\ub97c \uc81c\ud55c\ud558\uae30 \uc704\ud55c \ubaa9\uc801\uc73c\ub85c 12\uc6d4 1\uc77c\ubd80\ud130 \uc2dc\ud589\ud558\ub294 \uae00\ub85c\ubc8c \uc678\ud658 \uc21c \ud3ec\uc9c0\uc158\uc5d0 \ub300\ud574 \uc77c\uc77c 30% \ub9c8\uc774\ub108\uc2a4 \ud55c\ub3c4\ub97c \uc124\uc815\ud55c \uae30\uc874 \uaddc\uc815\uc744 \ubcf4\uc644\ud55c \uac83\uc774\ub2e4.
    \uc0c8\ub85c\uc6b4 \uaddc\uc815\uc740 \ud658\uc728 \uc704\ud5d8\uc5d0 \ub300\ube44\ud558\uc5ec, \ud398\uc18c\ud654\ub85c \uad6d\ub0b4\uc5d0\uc11c \ub300\ucd9c\uc744 \uc81c\uacf5\ud558\ub294 \uad6d\uc81c \uae08\uc735\uc5d0 \ub300\ud55c \uc81c\ud55c\uc744 \uc5c6\uc560\ub294 \uac83\uc774\ub2e4.
    \ud1b5\ud654 \ub2f9\uad6d\uc740 \uae08\uc735 \uc2dc\uc2a4\ud15c\uc5d0 \ud658\uc728\uc5d0 \ub300\ud55c \ud1b5\uc81c\ub97c \uc720\uc9c0\ud558\uba74\uc11c \uad6d\ub0b4 \uac1c\ubc1c\uacfc \ud22c\uc790\ub97c \uc704\ud55c \uc790\ubcf8 \uc720\uc785\uc744 \ubc29\ud574\ud558\uc9c0 \uc54a\ub294 \uac83\uc744 \ubaa9\ud45c\ub85c \ud55c\ub2e4.<\/li>\n\n\n\n
  3. \ud658\uc728 \uc0c1\uc2b9, \uc544\ub974\ud5e8\ud2f0\ub098 \uc790\uc0b0 \ud558\ub77d
    \uc2dc\uc7a5\uc758 \uc5ed\ub3d9\uc131\uc774 \ub2e4\uc2dc \ud55c \ubc88 \uae30\ub300\uce58\uc5d0 \ub300\ud55c \ubbfc\uac10\uc131\uc744 \ubc18\uc601\ud588\ub2e4.
    \uc7ac\ubb34\uccad\uc774 \ub9cc\uae30 \ucc44\uad8c \uc911 91%\ub97c \ub864\uc624\ubc84\ud558\ub294\ub370 \uc131\uacf5\ud588\uc9c0\ub9cc, \ub098\uba38\uc9c0 9%\ub294 \ube60\ub974\uac8c \ud658\ud5e4\uc9c0 \ud3ec\uc9c0\uc158\uc73c\ub85c \uc62e\uacbc\ub2e4.
    \uc774\ub7f0 \uc218\uc694\ub85c \uc778\ud574 \uc815\ubd80\ud658\uc728\uc740 1% \uc0c1\uc2b9\ud55c 1,445 \ud398\uc18c\uac00 \ub418\uc5c8\ub2e4.
    \ub3c4\ub9e4\ud658\uc728\uc740 1,432 \ud398\uc18c, MEP \ud658\uc728\uc740 1,451.12 \ud398\uc18c, CCL \ud658\uc728\uc740 1,446.32 \ud398\uc18c\ub85c \ub9c8\uac10\ud588\ub2e4.
    \ub2ec\ub7ec \ucc44\uad8c\uc740 \uae30\uc220\uc801 \ubc18\ub4f1 \uc774\ud6c4 \ucd5c\ub300 1.1% \ud558\ub77d\ud588\ub2e4.
    \uad6d\uac00\uc704\ud5d8\ub3c4\ub294 46bp\uac00 \ud558\ub77d\ud55c 1,024bp\ub97c \uae30\ub85d\ud588\ub2e4.
    Merval \uc9c0\uc218\ub294 1.1%, \uc6d4\uc2a4\ud2b8\ub9ac\ud2b8\uc758 ADR\ub3c4 \ucd5c\ub300 5.9% \uac01\uac01 \ub5a8\uc5b4\uc84c\ub2e4.
    \uc678\ud658\ubcf4\uc720\uc561\uc740 3400\ub9cc \ub2ec\ub7ec\uac00 \uac10\uc18c\ud55c 403\uc5b5 6200\ub9cc \ub2ec\ub7ec\uac00 \ub418\uc5c8\ub2e4.<\/li>\n\n\n\n
  4. IMF \uc815\ubd80\uc758 \ud658\uc728 \uac1c\uc785 \uc8fc\uc2dc
    IMF\ub294 \ucd5c\uadfc \uc544\ub974\ud5e8\ud2f0\ub098 \uc7ac\ubb34\uccad\uc758 \uc678\ud658 \uc2dc\uc7a5 \uac1c\uc785\uc5d0 \ub300\ud55c \ud1b5\uace0\ub97c \ubc1b\uc558\ub2e4\uace0 \ud655\uc778\ud588\ub2e4.
    \uadf8\ub7ec\ub098 IMF \ub300\ubcc0\uc778\uc740 \uba85\ud655\ud558\uace0 \uc9c0\uc18d \uac00\ub2a5\ud55c \ubc29\ubc95\uc73c\ub85c \uc678\ud658\ubcf4\uc720\uc561\uc744 \ub298\ub824\uc57c \ud55c\ub2e4\ub294 \uc785\uc7a5\uc744 \uac15\uc870\ud588\ub2e4.
    \ub300\ubcc0\uc778\uc740 \uc911\uc559\uc740\ud589\uc758 \uc9c0\uae09\uc900\ube44\uc728 \uc778\uc0c1\uc5d0 \ub300\ud55c \uc9c8\ubb38\uc744 \ubc1b\uace0, \ucd5c\uadfc\uc758 \uae30\uc220 \ubcf4\uace0\uc11c \uad8c\uace0 \uc0ac\ud56d\uc744 \uc7ac\ud655\uc778\ud588\ub2e4.
    \ub610 \uc544\ub974\ud5e8\ud2f0\ub098 \uc815\ubd80\uac00 \uc678\ud658\ubcf4\uc720\uc561 \uc7ac\uc870\uc815, \ud1b5\ud654\uc5d0 \ub300\ud55c \uc2e0\ub8b0 \ud5a5\uc0c1, \ud1b5\ud654 \uaca9\ucc28 \uac10\uc18c, \uc678\ubd80 \uc790\uae08 \uc870\ub2ec\uc5d0 \ub300\ud55c \uc811\uadfc\uc131 \ubcf4\uc7a5 \ub4f1\uc744 \uc704\ud574 \ub098\uc544\uac00\ub3c4\ub85d \uacc4\uc18d \uad8c\uc7a5\ud558\uace0 \uc788\ub2e4\uace0 \ub9d0\ud588\ub2e4.
    IMF\ub294 8\uc6d4\uc758 \uc7ac\uc815 \ud751\uc790\ub97c \uac15\uc870\ud558\uba74\uc11c, 2026\ub144 \uc608\uc0b0\uc774 \uad6c\uc870 \uac1c\ud601\uc758 \uae38\uc744 \uacc4\uc18d \uac00\ub294 \uc9c4\uc804\ub41c \ub0b4\uc6a9\uc744 \uacf5\uace0\ud788 \ud558\ub294\ub370 \ud575\uc2ec\uc774 \ub418\uae30\ub97c \uae30\ub300\ud55c\ub2e4\uace0 \ub367\ubd99\uc600\ub2e4.
    \uc774\ud6c4 \ubc00\ub808\uc774 \ub300\ud1b5\ub839\uacfc \uae4c\ubfcc\ub610 \uacbd\uc81c\uc7a5\uad00\uc740 IMF \uba54\uc138\uc9c0 \uc77c\ubd80\ub97c \uc18c\uc15c\ubbf8\ub514\uc5b4\uc5d0 \uacf5\uc720\ud588\ub2e4.
    \ub610 \ubc00\ub808\uc774 \ub300\ud1b5\ub839\uc740 \uacbd\uc81c \ud504\ub85c\uadf8\ub7a8\uc5d0 \ub300\ud55c \uc758\uc9c0\ub97c \uc7ac\ud655\uc778\ud558\uba74\uc11c, \uc7ac\uc815 \uade0\ud615, \ud1b5\ud654 \ud1b5\uc81c, IMF\uc640 \ud569\uc758\ud55c \ud658\uc728 \uc81c\ub3c4 \uc720\uc9c0\ub77c\ub294 \ubc29\uce68\uc744 \ubc97\uc5b4\ub098\uc9c0 \uc54a\uace0, \uacbd\uc81c \uaddc\uc81c \uc644\ud654\ub97c \uacc4\uc18d \ucd94\uc9c4\ud560 \uac83\uc774\ub77c\uace0 \ub2e4\uc9d0\ud588\ub2e4.<\/li>\n\n\n\n
  5. \uc6d4\uc2a4\ud2b8\ub9ac\ud2b8 \uc0ac\uc0c1 \ucd5c\uace0 \uae30\ub85d \uc774\ud6c4 \uc18c\ud3ed \ud558\ub77d\uc138\ub85c \uac1c\uc7a5
    \ubbf8\uad6d \uc778\ud50c\ub808\uc774\uc158 \ub370\uc774\ud130\uc5d0 \ub530\ub77c \uc804\ub0a0 \uc0ac\uc0c1 \ucd5c\uace0\uce58\ub97c \uae30\ub85d\ud588\ub358 \uc6d4\uc2a4\ud2b8\ub9ac\ud2b8\ub294 \uc624\ub298 \uc57d\uac04\uc758 \ud558\ub77d\uc73c\ub85c \ucd9c\ubc1c\ud588\ub2e4.
    \ub2e4\uc6b0\uc874\uc2a4 0.19%, S&P 500 0.11% \uac01\uac01 \ud558\ub77d\ud588\uace0, \ub098\uc2a4\ub2e5\uc740 \ubcf4\ud569\uc138\uc774\ub2e4.
    \uc544\uc2dc\uc544 \uc2dc\uc7a5\uc740 \ud22c\uc790\uc790\ub4e4\uc758 \uc8fc\uc758\uac00 \ub192\uc544\uc9c4 \uc810\uc744 \ubc18\uc601\ud574 \uc5c7\uac08\ub9b0 \uc9c0\uc218\ub85c \ub9c8\uac10\ud588\ub2e4.
    \ubaa8\ub4e0 \uc2dc\uc7a5\uc758 \uc2dc\uc120\uc740 9\uc6d4 17\uc77c \uc218\uc694\uc77c\uc5d0 \uc5f4\ub9ac\ub294 \uc5f0\uc900 \ud68c\uc758\uc5d0 \uc9d1\uc911\ub418\uc5b4 \uc788\ub2e4.
    \uc5f0\uc900\uc740 \uc62c\ud574 \ucc98\uc74c\uc73c\ub85c 0.25% \uae08\ub9ac\uc778\ud558\ub97c \ub2e8\ud589\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub418\uba70, \uacbd\uc81c \uc131\uc7a5\uc744 \uc9c0\uc18d\ud558\uae30 \uc704\ud574 \uc62c\ud574 \ub0a8\uc740 \ub450 \ubc88\uc758 \ud68c\uc758\uc5d0\uc11c \ucd94\uac00\uc801\uc778 \uae08\ub9ac\uc778\ud558\ub3c4 \uc788\uc744 \uac83\uc73c\ub85c \ubcf4\uc778\ub2e4.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    \uc624\ub298\uc758 \uacbd\uc81c<\/p>\n","protected":false},"author":6,"featured_media":9332,"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-9331","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\/9331","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=9331"}],"version-history":[{"count":1,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/9331\/revisions"}],"predecessor-version":[{"id":9333,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/9331\/revisions\/9333"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/media\/9332"}],"wp:attachment":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}