Argentina Economic Crisis (jan 1, 1948 – dec 31, 1949)

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A major economic failure, from 1948 to 1949, there was an economic crisis in Argentina. The cause of the crisis was a steep decline in export earnings due to foreign competition and errors in Peròn's policies. There was a decline in beef and wheat exports across the board for Argentina. The problems of the export-economy were compounded by a severe drought in 1948, and by cut-backs in production as farmers reacted to unrealistically low prices imposed by the government. Argentina faced a shortage of energy as the needs of industry exceeded capacity to import oil and coal. Peròn had to revise his nationalist economic policies. He put additional resources and investment into agriculture in order to revive the export-economy. The late 1940s economic crisis marks the first example of a major failing in Peròn's regime.

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