INDEC: Economy grew 10.3% year-on-year in first 11 months of 2021
GDP rose 10.3% year-on-year between January and November 2021, reveals national statistics bureau.
Argentina's Gross Domestic Product (GDP) rose 10.3 percent year-on-year between January and November 2021, the INDEC national statistics bureau reported on Tuesday.
Economic activity improved 9.3 percent year-on-year in November and 1.7% compared to the previous month, October.
The improved data lends weight to the government’s claim that Argentina is finally overcoming the recession into which it fell in 2018. Exacerbated by the arrival of the coronavirus pandemic, GDP slumped by 9.9 percent in 2020.
Official and private estimates agree that the economy closed out 2021 with a 10 percent rebound. According to estimates from the International Monetary Fund, GDP will grow by around three percent this year.
For President Alberto Fernández and his government, protecting the economic recovery and growth is one of the key points in its negotiations with the IMF to refinance its debt of more than US$44 billion dollars with the multilateral lender.
– TIMES/AFP
related news
-
Fernández de Kirchner accuses Milei of subjecting Argentines to ‘pointless sacrifice’
-
Book fair serves as beacon of hope resilience amid economic crisis
-
Five dogs and a million reds
-
Missing the point
-
Jorge Lanata: ‘President Milei has the right to speak and criticise, but not to say just anything’
-
The first ‘real world’ punch for Javier Milei
-
Stories that caught our eye: April 19 to 26
-
Top officials to meet People's Bank of China chief amid swap talks
-
Argentina to offer bonds in first step to lift currency controls
-
Omnibus bill heads to Congress, debate set for Monday or Tuesday