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Argentine President-Elect to ‘Review Everything’ in 2020 Budget

Patrick Gillespie

(Bloomberg) -- Argentine President-elect Alberto Fernandez said he’ll review the government’s spending plans for 2020 and suggested his predecessor’s draft budget was faulty.

“We have to resolve the issue of the budget, we have to review everything” Fernandez said in an interview with radio station 750 AM on Saturday. He didn’t specify what he might change.

“The budget they did is a fallacy,” Fernandez said, apparently referring to President Mauricio Macri’s government.

Fernandez’s lack of specifics on how he plans to save the country from financial ruin have left investors begging for clarity and increasing bets on a debt default. Elected on a groundswell of popular opposition to fiscal austerity, Fernandez is due to take office on Dec. 10.

To contact the reporter on this story: Patrick Gillespie in Buenos Aires at pgillespie29@bloomberg.net

To contact the editors responsible for this story: Juan Pablo Spinetto at jspinetto@bloomberg.net, Tony Czuczka

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