( Reuters ) - Opposition lawmakers said the government was underestimating 2008 economic growth and inflation after the economy minister presented next year's budget bill to Congress on Wednesday.
Opposition leaders criticized the government for forecasting 4 percent economic expansion next year when annual rates have not dipped below 8.5 percent since 2003.
They described this as a government ploy to spend extra revenue without oversight, citing the 2007 budget, which also put growth at 4 percent. President Nestor Kirchner has said the economy should grow above 8 percent this year.
"Our estimates show that Argentina will not grow less than 6 or 6.5 percent (in 2008) and also show the inflation rate is nearly double what has been presented here," leftist legislator Claudio Lozano told local television.
Economy Minister Miguel Peirano confirmed the key economic targets announced Friday: gross domestic product expansion of 4 percent, inflation of 7.3 percent by December and 7.7 percent on average, and a primary budget surplus of 3.15 percent of GDP.
The government raised the outlook for the 2008 trade surplus, however, to $11.03 billion from $10.06 billion, without explanation.
Peirano defended the conservative growth forecast and steered clear of discussing inflation during his 35-minute speech. He did not take any questions.
The minister said critics "are ultimately highlighting the government's ability to collaborate with all Argentines so that these budget targets, which are significant and positive, could be surpassed."