In April alone, consumer prices rose by 8.4 percent, according to the statistics agency (INDEC) in Buenos Aires on Friday. The inflation rate in Argentina is one of the highest in the world. To fund the budget deficit, the central bank is constantly printing fresh money. The second largest economy in South America suffers from a bloated state apparatus, low industrial productivity and a large shadow economy that deprives the state of a lot of tax revenue.
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BUENOS AIRES (dpa-AFX)
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