The Gross Domestic Product (GDP) of Argentina increased 6% year-on-year in the first quarter of 2022reported this Thursday the State Statistics Institute Indec.

The figure reflects a slight correction with respect to the already published Quarterly Economic Activity Estimator, which had calculated economic growth for the period at 6.1%.

The economy registered an expansion of 0.9% compared to the previous quarter of October-December 2021.

The GDP showed a rise of 10.3% in 2021, a reactivating reaction after the sharp fall of 9.9% in 2020, caused by the negative impact of the covid-19 pandemic.

The International Monetary Fund (IMF) estimated in its latest forecast report that the Argentine GDP will increase by 4% this year.

On the other hand, the latest survey of expectations prepared by the Central Bank, based on calculations by the largest banks and private consultants, estimated that the economy will register a growth of 3.3% in 2022.

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