Argentine president details economic aid plan

BUENOS AIRES, Argentina (AP) -- Argentina will spend $16.6 billion on infrastructure next year as part of a promised $20 billion public works package aimed at counteracting effects of the world economic crisis.

President Cristina Fernandez says the money will go to repair roads and railways and build schools, housing and hospitals, among other projects.

She said Monday in a televised news conference that the spending will create 380,000 jobs in the construction sector.

Fernandez did not give details on any plans for the remaining funds.

Argentina had seen nearly five years of economic growth topping 8 percent annually before the crisis hit.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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