Manufacturers complain
07/07/2008
A controlled fall of the price of the peso has prompted protests from the manufacturing sector in Argentina.
The president of the Leather Manufacturers’ Association of the country, Raúl Zylberstein, was among the business leaders to voice their concerns about moves from President Cristina Fernández to end a strike by farmers by lowering the value of the local currency was proving disastrous for the manufacturing sector.
He said companies such as his, Buenos Aires-based ZH, were having to produce more to maintain profit levels. He said there had been no profit-growth for four years owing to higher costs.
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