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

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Buenos Aires, Nov 9 (Businesshala) – Argentina’s economy will grow by 9% in 2021 from what it lost during the COVID-19 lockdown last year, the economy ministry said on Tuesday, raising its previous estimate of 8% growth this year. Happened.

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The new estimate is also above analysts’ 8.3% forecast in the central bank’s latest monthly survey.

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“Today the economy of Argentina is undergoing a solid recovery,” a ministry statement quoted Economy Minister Martin Guzmán as saying. “All sectors of the Argentine economy are growing.”

According to the most recent official figures, however, inflation is running at 52.5% annually. Analysts polled by the central bank expect consumer prices to rise 50.3% for the full year 2021.

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Argentina will vote in congressional elections on Sunday after a firefight by the official Peronist coalition in September’s primaries. Pre-election panic contributed to the fall in the official peso rate ars-rusli On Monday, when it closed at an all-time low of 100.05 against the US dollar.

Reporting by Eliana Razewski; Written by Hugh Bronstein; Editing by Dan Grebler

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