The Implementation of the Developmentalist Economic Programme. The First Aim: ‘Development’
When the results of the 23 February 1958 elections became known, Frigerio had reason to congratulate himself on his efforts: the Peronist masses had followed the ‘directive’ sent by Perón a few days earlier, and with the exception of 405,816 blank ballots, Peronists had now voted for the UCRI. Overall the party obtained 44.90 per cent of the votes, followed by the UCR with 28.90 per cent, the rest of the parties trailing far behind. The recently created Christian Democratic Party received 3.16 per cent of the votes, while the Socialists received the approval of only 2.92 per cent of the electorate, their best results being in the Federal Capital, their usual stronghold, where they obtained 5.64 per cent. Three small conservative parties managed to secure less than 1.5 per cent each, while Alsogaray’s PCI received 0.44 per cent. The UCRI had triumphed in all the provinces, and the 4,070,398 votes it received assured the party not only of all the provincial governorships and the majority in all provincial legislatures, but, in accordance with the Sáenz Peña Law, 70 per cent of the seats in the Chamber of Deputies(133) and all the 42 senators — as Babini described it with hindsight, ‘an anti-republican majority of totally addicted Congress and governorships’.1 The contradictory reactions sparked off by the news of the results of the elections held on 23 February provided an indication of the ambiguity of the UCRI victory.
KeywordsForeign Firm Capital Good Foreign Capital Fiscal Deficit Domestic Saving
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