Economy of Argentina

Argentina is very famous for there nature resources, they have heavy range of of petroleum, energy recourses, floors, also copper, zinc, gold; it has been suffering from recurring economic problems in the past decade. From the late 1970s the country piled up public debt and was plagued by bouts of high inflation. In 1991, the government pegged the peso to the U.S. dollar and limited the growth in the money supply. It then embarked on a path of trade liberalization, deregulation and privatization. Inflation dropped and gross domestic product grew, but external economic shocks and failures of the system diluted benefits, causing the economy to crumble slowly from 1995 until the collapse in 2001. The situation by 2006 was further improved. The economy grew 8.8% in 2003, 9.0% in 2004, 9.2% in 2005 and 2006 was on the same track (predictions are between 8.5% and 9.0%), though inflation, estimated at around 12 to 15% (official numbers are 9.8% for 2006), has become an issue again, and income distribution is still considerably unequal.