Country Economic Forecasts - Argentina
Emerging ‘green shoots’ suggest the economy may have stabilized in Q1, but it is still too early to declare the end of the recession. Economic activity expanded by 0.6% m/m in January, the second positive print in a row, but data for February does not look as promising. We now expect GDP to contract by 1.3% this year (-1.4% previously), while ultra-tight monetary policy will preclude a swift recovery. We now forecast GDP growth of 2.7-2.8% pa in 2020-2022.
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