Buenos Aires Times

economy ECONOMIC INDICATORS

INDEC: GDP grew 3.6% year-on-year in first quarter of 2018

The figure refers to a period of growth in the months before a run on the peso forced a currency crisis, encouraging President Mauricio Macri's administration to look to the International Monetary Fund (IMF) for financing last month.

Wednesday 20 June, 2018
Gross Domestic Product (GDP) increased by 2.8 percent in 2017, according to a preliminary estimate.
Gross Domestic Product (GDP) increased by 2.8 percent in 2017, according to a preliminary estimate. Foto:Télam-Gustavo Amarelle

More Economy News

Economic activity in Argentina grew 3.6 percent in the first quarter of 2018, compared to the same period of the previous year, the INDEC national statistics bureau has reported.

According to the bureau, Gross Domestic Product (GDP) increased by 1.1 percent in the first quarter compared to the fourth quarter of 2017.

The figure refers to a period of growth in the months before a run on the peso forced a currency crisis, encouraging President Mauricio Macri's administration to look to the International Monetary Fund (IMF) for financing last month. Analysts believe the next quarter's growth figures may be less bright, as they will accommodate a hike in interest rates and economic adjustments agreed as part of the IMF deal.

Last year, the government anticipated that economic growth would be around 3.5 percent, though those estimates have been lowered in the wake of the recent distress. Finance Minister Nicolás Dujovne has speculated the new figure could be between 0.4 percent and 1.4 percent.

Argentina's GDP increased 2.8 percent in 2017, according to government estimates.

-9 AFP

 

Op-Ed

Top Stories

  1. 1Regional leaders to bury UNASUR, launch new PROSUR alliance on FridayRegional leaders to bury UNASUR, launch new PROSUR alliance on Friday
  2. 2Local producers concerned over tariff-free Brazil-US agreement for wheat
  3. 3CFK publishes Florencia's medical records in bid to dismiss rumours
  4. 4Unemployment in last quarter of 2018 reached 9.1 percent, says INDEC
  5. 5BA's premier film festival BAFICI adds new venues, open-air screenings
  6. 6Government renews its firepower as inflation picks up pace
  7. 7Prosecutors request arrest of Techint CEO Paolo Rocca
  8. 8OECD: Argentina's economy will shrink in 2019, but less than expected
  9. 9Economy set for slow recovery in 2019, experts say
  10. 10Congress honours Irish-Argentine newspaper, The Southern Cross, with exhibition