Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Although the country was one of the world’s wealthiest countries 100 years ago, Argentina suffered during most of the twentieth century from recurring economic crises, persistent fiscal and current account deficits, high inflation, mounting external debt, and capital flight, mainly due to its weaknesses in Demand Conditions, Politicians & Bureaucrats, Entrepreneurs, and Professionals. The economy has rebounded strongly from the 2009 recession, but the government’s continued reliance on expansionary fiscal and monetary policies risks exacerbating already high inflation.
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