Argentine president outlines economic vision


Argentina's president has a reason to smile again.



Argentine President Cristina Fernandez de Kirchner said that her government would pursue an economic model that emphasizes expanding the economy.

She said the focus would not be on pursuing a model of inflation targeting, reported La Nacion. 

Argentina's economy has been expanding rapidly — it is expected to grow about 8 percent this year — but inflation is also high, around 25 percent according to private estimates.

In a speech at a conference held by the Argentine Industrial Union, Fernandez criticized the role of some companies in the recent large purchases of foreign currencies.

She takes office for her second term on Dec. 10.

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