Argentina’s economic activity grew 9.1% year-on-year in February: Indec

The Argentine economic activity advanced 9.1% year-on-year in February and accumulated a rebound of 7.0% in the first two months, said Thursday the National Institute of Statistics and Censuses (Indec), a lower/higher figure than expected by analysts.

The Monthly Estimator of Economic Activity (EMAE) of Argentina registered a rise of 1.8% in the seasonally adjusted measurement compared to January, the agency said.

A Reuters poll of analysts estimated a median rise of 6.7% year-on-year for the February EMAE.

The gross domestic product (GDP) has been on the rise for 12 consecutive months. Its global rise in 2021 was 10.3% versus a drop of 9.9% in 2020 at the height of the coronavirus pandemic.

The latest report from the International Monetary Fund (IMF) calculated that the Argentine economy will grow 4% in 2022. The government closed an agreement with the IMF to refinance a debt of almost 45,000 million dollars and reviews of compliance with the goals will begin in May.


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