To indicate that Argentine President Cristina Fernandez has enough support to push for a constitutional change allowing her to run for a third term in 2015, she faced a mid-term primary election test.
There is no competition among candidates on the list presented by each party, and it acts as a survey on Fernandez’s six years in power, but the candidates for legislative elections in October will be chosen in Sunday’s open primary.
The left-wing leader has dispensed a good and steady economic growth and was easily re-elected two years ago. But heavy government spending has risen up annual inflation to over 20%, and her argumentative manner has disappointed investors and many voters in Latin America’s third-biggest economy.
Mainly the investors and the trade partners are upset with an overrated currency, heavy-handed import and foreign exchange controls and President’s decision to nationalize Argentina’s private pension system, its main airline and top energy company YPF.
Lot of investors in Argentina’s vast agricultural and shale oil resources are keeping a close eye on the primary vote for indication of whether voters are strenuous of Fernandez’s bossy policies and might be ready for a market-friendly leader in 2015.
The president stated that she is not thinking about a potential third term but talk continues that her parliamentary partners want the constitution changed to allow her to run again.
Meanwhile, Argentina’s economy is expected to grow by about 5% this year regardless of impending fiscal troubles.