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Argentina forecasts 9% growth in 2021, up from previous 8% estimate -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Argentine One Hundred Peso Bills are positioned below the United States 100 Dollar bill in this photo illustration, taken September 3, 2019. REUTERS/Agustin Marcarian/Illustration/File Photo

BUENOS AIRE (Reuters) – Argentina’s economy is expected to grow 9% in 2021. The country has recovered much of its losses during last year’s COVID-19 lockdown.

It is higher than the 8.3% estimate that central bank analysts had forecast in their most recent monthly survey.

A ministry statement stated that “Today, the Argentine economic is undergoing a solid recover,” quoting Economy Minister Martin Guzman. All sectors of Argentina’s economy are expanding.

However, the latest official data shows that inflation has been at 52.5% each year. The central bank polled analysts and predicted that consumer prices would rise 50% in the 2021 full year.

After the Peronist coalition suffered a defeat in September’s primaries, Argentines will be voting in their congressional elections on Sunday. The official peso closed Monday at a record low 100.05 against the U.S. Dollar due to pre-election nerves.

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