the economy of Argentina will grow 9% in 2021 and recover much of what it lost in 2020 during the social isolation caused by Covid-19, the Ministry of Economy said on Tuesday (9), an increase from the previous estimate of 8% growth this year.
The new estimate is also above analysts’ forecast of 8.3% in the latest monthly survey by the Argentine central bank.
“Today the Argentine economy is undergoing a solid recovery,” said a statement from the ministry, quoting Economy Minister Martin Guzmán. “All sectors of the Argentine economy are growing.”
Inflation, however, is at 52.5% a year, according to the latest official data. Analysts consulted by the central bank expect consumer prices to rise by 50.3% in the full year of 2021.
On Sunday, Argentines will vote in the congressional elections after the official Peronist coalition suffered a sharp defeat in the September primaries. Pre-election jitters contributed to a drop in the peso’s official rate on Monday, when it closed at an all-time low of $100.05.
Reference: CNN Brasil
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