Argentina’s economy grows by 10.3% year-on-year between January and November 2021

The Gross Domestic Product (GDP) of Argentina accumulated an increase of 10.3% year-on-year between January and November 2021 Compared to the same period last year, the state’s statistics institute Indec reported on Tuesday.

In November, economic activity recorded an increase of 9.3% year-on-year and 1.7% compared to October.

The statistics reinforce the impression that the country is overcoming the recession in which it fell in 2018 and which intensified in 2020, the first year of the Covid-19 pandemic, with a fall in GDP of 9.9 percent.

Official and private calculations agree that the economy ended 2021 with a recovery of 10 percent. For 2022, the International Monetary Fund has projected growth of 3 percent.

The growth of economic activity is for the center – left government of Alberto Fernández one of the key points in the negotiations he is conducting with the IMF to refinance the debt with the organization for more than 44 000 million dollars.