July 29, 2014
CFK announces 11.3 percent pension rise
President Cristina Fernandez de Kirchner announced today an 11.31 percent rise in pensions to be effective as of March. Together with last December’s raise, this accounts for a 27.35 percent total rise in pensions.
With this measure, the average pension will be of $4804 argentine pesos, while the minimum pension will be of $2757 pesos.
The President, who spoke from Government’s House in a nationwide broadcast, explained that Argentina’s pension system is the largest in Latin America, with 7 million beneficiaries.
“Some might call this measure ‘populist’ and say that it will lead to inflation. But it’s a lie that economic expansion necessarily leads to inflation. We believe in economic development based on popular consumption”, Kirchner said.
Ms. Kirchner also announced a 200 percent rise in scholar aid. The benefit will pass from $170 to $510 pesos.