Argentina boosts spending on workers' children
The head of Argentina's state-run workers' fund says monthly family allowances will increase 35 to 50 per cent per child this year.
By Agencies |
BUENOS AIRES: The head of Argentina's state-run workers' fund says monthly family allowances will increase 35 to 50 per cent per child this year.
Amado Boudou says the move will cost the government $128 million in 2008, benefiting more than 4 million children of active workers and 230,000 children of retirees. Union leader Hugo Moyano says the increase will give a ``reasonable'' boost to help workers cover rising living costs.
Argentine annual inflation officially reached 9 per cent in August, but independent economists put the rate closer to 25 percent. International investors have questioned whether Argentina will be able to continue current state spending and maintain a strong fiscal surplus to service its foreign debt.
Amado Boudou says the move will cost the government $128 million in 2008, benefiting more than 4 million children of active workers and 230,000 children of retirees. Union leader Hugo Moyano says the increase will give a ``reasonable'' boost to help workers cover rising living costs.
Argentine annual inflation officially reached 9 per cent in August, but independent economists put the rate closer to 25 percent. International investors have questioned whether Argentina will be able to continue current state spending and maintain a strong fiscal surplus to service its foreign debt.
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