Less than a year into the government of Libertarian President Javier Milei, Argentina will be the only country in the region with negative growth in 2024, according to projections by the World Bank, the International Monetary Fund (IMF), ECLAC, and BBVA, which forecast a 3.2% contraction of Gross Domestic Product (GDP) in South America’s second-largest economy.These figures match those projected by Argentina’s own Monthly Estimator of Economic Activity (Emae) published by the National Institute of Statistics and Census (Indec) for the first semester of 2024, which suggests that the negative trend will continue, although it is not expected to sink any deeper despite the strong recession and market volatility.
September 5, 2024
SOURCE: MERCOPRESS
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Argentina, only country in the region with a contracting economy