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  • Argentina suffering great economic loss from A/H1N1 flu

    Argentina - commerce and consumption: aviation, tourism, food and beverage, entertainment - manufacturing

    Argentina suffering great economic loss from A/H1N1 flu

    www.chinaview.cn 2009-07-08 14:01:39 Print

    BUENOS AIRES, July 7 (Xinhua) -- Argentina's economy is headed for a monthly loss of six billion pesos (about 1.57 billion U.S. dollars) because of the A/H1N1 flu spread, a research institute reported on Tuesday.

    According to the report, in the past 15 days the spread of the flu has inflicted three billion pesos (785 million dollars) of loss to Argentina, and the monthly loss could add up to six billion pesos, 0.6 percent of the country's GDP.

    Though medical and sanitary supplies sales have surged, other sectors including aviation, tourism, food and beverage, and entertainment have all been severely hit, the report said.

    Economist Nicolas Brich said that currently the country's commerce and consumption are the two sectors most affected by the flu outbreak, and as it continues to spread, the manufacturing sector will also be affected.

    If the flu spread at the speed in Mexico, the country's GDP could suffer a one to two percent loss, Brich said.

    The death toll has reached 60 in Argentina. Many provinces and regions, including the capital Buenos Aires, have announced a state of medical emergency since June.

  • #2
    Re: Argentina suffering great economic loss from A/H1N1 flu

    Argentina's swine flu outbreak may cut output by 6%

    By Eliana Raszewski | Bloomberg News
    <table id="phototable" border="0" cellpadding="3" cellspacing="0" width="325"> </table> An outbreak of swine flu in Argentina may cut output in South America's second-biggest economy by 0.6 percent as tourist spending drops during winter vacations, said Orlando Ferreres of Buenos Aires research company Orlando Ferreres & Asociados

    "Swine flu will have a high impact in hotels and restaurants," Ferreres said in a telephone interview. "If the swine flu lasts one month, the losses would rise to about $1.6 billion."

    The spread of the H1N1 virus will weigh on an economy that is already weakening from a drop in farm output, lower commodity prices and declining consumer spending. After taking account of the likely effect of the flu outbreak, particularly on education, transport and tourism, the economy will contract about 6 percent this year, Ferreres said.

    That compares with the median forecast of a 3.3 percent contraction by six economists in a Bloomberg survey. In the first quarter of 2009, gross domestic product expanded 2 percent from a year earlier, the slowest pace since 2002.

    Health Minister Juan Luis Manzur last night said about 90 percent of the country's influenza cases involve the H1N1 virus, which has displaced other types of flu that previously affected Argentina.

    Authorities confirmed 2,485 cases of swine flu and 60 deaths through July 5, according to the Health ministry's Web site. Since the virus reached the country in May, a total of 107,000 people might have been infected, Manzur said.

    The city of Buenos Aires and several provinces have declared a health emergency, moving up winter vacations for schools and universities, and canceling some public events. The national government granted pregnant women, a group it considers more exposed to the virus, 15 days paid leave.

    The Argentine Association of Theater Owners yesterday announced the suspension of functions for 10 days after demand for tickets fell 80 percent, said Carlos Rottemberg, head of the group.

    Trips by graduating high school students to Bariloche, a ski resort in the Patagonian province of Rio Negro, were postponed for 15 days to avoid an increase of cases.

    "We have to take all the preventive measures we can to avoid having more cases of swine flu," Daniel Garcia, president of the Association of Student Tourism of Bariloche, said in a telephone interview.

    Part of the decline in tourism spending will result from a drop in visitors from Brazil, said Hector Scagnetti, who rents out cabins near Chapelco, a ski resort in the southern province of Neuquen.

    On June 23, Brazil's Health Minister Jose Gomes Temporao said those aged 60 and above and children under two should postpone trips to Argentina and to Chile, where more than 7,300 cases of the virus have been confirmed.

    "The last thing a tourist wants from his vacation is to have a problem," said Scagnetti, whose bookings are down 50 percent from last year. "I understand Brazil's warning, we haven't had any swine flu cases but we can't guarantee that we won't."

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