News of growth

Milei warns of 'stagflation' after picking economy czar

29-11-2023 14:00 Period of stagflation will be unavoidable as the new administration implements the fiscal adjustment needed to organise the economy, warns Javier Milei.

ECONOMIC INDICATORS

Economy grew again in August despite inflation spike

24-10-2023 21:54 Argentina’s economy expanded in August despite a steep currency devaluation that unleashed price spirals not seen in three decades.

Bloomberg

Billionaire Paolo Rocca has a Plan B for lithium if alpha bid fails

11-10-2023 08:10 Billionaire Paolo Rocca’s oil drilling unit will enter the lithium business one way or another.

ECONOMIC OUTLOOK

Argentina’s economy to contract 2.5% this year, says IMF

10-10-2023 12:56 Latest forecast from International Monetary Fund foresees 121.7% inflation and 2.5% GDP shrinkage in 2023; Report predicts 2.8% growth in 2024.

ECONOMIC OUTLOOK

World Bank sceptical over Milei’s dollarisation plans

05-10-2023 00:45 Argentina’s economy is set to contract 2.5% in 2023, according to the World Bank.

Bloomberg

Argentina seeks to tax lithium boom to avoid region’s resource curse

02-10-2023 11:57 Provincial and federal officials want to tap the profits of lithium companies with an annual tax that would be put toward building infrastructure.

Lithium in Argentina

Lithium boom in Argentina hinges on politics, Zijin unit says

27-09-2023 19:05 Hurdles to lithium development in neighbouring Chile and Bolivia have opened the door for Argentina, says top industry official

ECONOMIC INDICATORS

Argentina's economy shrank most since 2020 amid record drought

20-09-2023 08:52 Argentina's GDP shrank 2.8% in the second quarter of the year, more than the 2.5% contraction forecast by experts. From a year ago, activity contracted 4.9%.

ECONOMIC OUTLOOK

OECD: Argentina to suffer steepest recession of G20 nations

19-09-2023 14:02 Organisation for Economic Cooperation and Development says Argentina's GDP will contract by 2% this year, while suffering 118.6% inflation in 2023.

POLICYMAKERS MEET

Central Bank to keep key interest rate unchanged despite surging inflation

14-09-2023 00:46 Central Bank board will likely keep its key interest rate unchanged because policymakers expect slowing price pressures later on in the year.

ECONOMIC INDICATORS

CELAC sees Latin American growth of 1.7%, but forecasts 3% slump for Argentina

05-09-2023 15:13 Argentina's economy forecast to contract by 3% this year, according to Economic Commission for Latin America and the Caribbean (ECLAC/CELAC).

Bloomberg

China’s Zijin is in talks with Argentina to turn lithium into battery cathode

11-07-2023 17:46 China’s Zijin Mining Group is in advanced talks to build a plant in Catamarca that will turn some of the nation’s huge lithium reserves into cathodes used to make electric-vehicle batteries.

MONETARY POLICY

Central Bank expects to hold benchmark rate through primary vote

05-07-2023 22:34 Economists surveyed by Argentina’s Central Bank see prices rising 149% annually by the end of this year and a 3% contraction in GDP.

NEW REPORT

Report: Public employment up 34% in Argentina since 2011, private only 3%

05-07-2023 12:32 New report by IERAL, business school of the Fundación Mediterránea think tank, shows a massive imbalance between the growth of public and private sector jobs in Argentina. Only province in which private-sector jobs grew faster was Neuquén, thanks to Vaca Muerta. Córdoba recruited the fewest state employees.

ECONOMIC INDICATORS

Amid drought, economy shrank more than expected in April

30-06-2023 17:07 Argentina’s economy contracted more than expected in April as a record drought took its toll on trade, a sign that the economy is likely to enter recession later this year.

ECONOMIC INDICATORS

Argentina's economy picks up less than expected ahead of recession

23-06-2023 00:49 Gross domestic product expanded 0.7& in the first quarter from the October-December period.

ECONOMIC OUTLOOK

World Bank, OECD: Argentina's economy faces recession, soaring inflation

09-06-2023 19:44 Multilateral institutions sound alarm over Argentina’s immediate economic outlook, forecasting that GDP will shrink by at least 1.6% this year.

ECONOMIC POLICY

First South American central bank to cut says caution needed

09-06-2023 12:31 Uruguay to keep restrictive policy even with more rate cuts; Economy will probably grow around 2% this year.

ECONOMIC INDICATORS

Brazil’s economic growth bounces back under Lula

01-06-2023 12:39 Brazil’s economy roared back in the first months of 2023, lifted by bumper harvests that outweighed the drag of double-digit borrowing costs.

ECONOMIC INDICATORS

Economy grew less than expected on drought, inflation

23-05-2023 18:31 Economic activity rose 0.1% in March from the previous month, reveals INDEC, less than forecast by analysts.

ECONOMIC INDICATORS

Latin America’s two biggest economies surprise with stronger growth

30-04-2023 08:04 Brazil and Mexico surprise investors with stronger-than-expected growth, indicating Latin America’s largest economies are holding up amid high interest rates and fast inflation.

Bloomberg

Tech billionaire Galperín bets on growth of rugby in US with Miami team

29-04-2023 08:32 MercadoLibre billionaire Marcos Galperín and a group of Argentine friends and businessmen invest about US$6.5 million to found the Miami Sharks rugby team.

AIRLINES & AVIATION

Low-cost airlines: Domestic passenger growth can take off

24-04-2023 07:00 Mauricio Sana and Gonzalo Pérez Corral, the CEOs of Flybondi and JetSMART respectively, agree that the number of domestic passengers could be doubled with a better commercial aviation policy. The duo offer their opinion on Aerolíneas Argentinas, explain why they cannot get more room at downtown Aeroparque and detail their relationship with government ministries.

by Claudio Celano Gómez

URUGUAY

Uruguay leads Latin America with first rate reduction

19-04-2023 21:06 Uruguay becomes first inflation-targeting country in Latin America to start lowering borrowing costs after economy entered technical recession towards end of last year.

REGIONAL ECONOMY

Latin America’s policy-makers warn investors of long fight against inflation

17-04-2023 17:08 Battle against inflation will take longer than expected, the region top economic authorities said at IMF Spring Meetings.

IMF ASSESSMENT

IMF says Argentina’s drought is worse than expected for growth

14-04-2023 11:13 “The more data we see, the more serious that shock seems to be on the country,” admits Nigel Chalk, IMF acting director for the Western Hemisphere.

ECONOMIC OUTLOOK

Moody's forecasts 1.5% contraction for Argentina's economy

12-04-2023 13:46 Ratings agency Moody's Investors Service warns of impact of drought on Argentina's economy and predicts inflation will rise to 107% this calendar year.

ECONOMIC INDICATORS

Economy will grow by just 0.2% this year, says IMF

11-04-2023 10:59 IMF lowers 2023 global growth forecast to 2.8% and warns of looming half-decade of low growth; Fund predicts that economy will hardly grow this year and warns high inflation will continue.

COURT RULING

Argentina loses US$1.5-billion UK case over GDP-linked bonds

05-04-2023 10:47 Argentina must compensate investors for losses in the country’s growth-linked securities after the nation changed the method of calculating gross domestic product, a London court ruled.

ECONOMIC OUTLOOK

World Bank lowers forecast to no growth for Argentina in 2023

04-04-2023 14:50 International financial institution lowers its 2023 growth forecast for Argentina from two percent to zero growth and calls for “macroeconomic stability” in order to boost growth.

ECONOMIC INDICATORS

Argentina's economic growth surpasses expectations despite outlook

30-03-2023 14:31 Argentina's economic activity rose 2.9% year-over-year, more than economists expected in January.

MINING & INDUSTRY

Lithium boom delivers job growth to Argentina’s mining industry

28-03-2023 15:09 National industry industry has now recorded 28 consecutive months of job creation growth, with more than 37,000 workers now employed in the sector.

VACA MUERTA

Vaca Muerta awakes as pipelines revive shale hopes

27-02-2023 15:07 Argentina’s energy industry has seen its fair share of false dawns, but the construction of a pipeline is an irrefutable step towards cutting the country's dependency on fuel imports.

ECONOMIC INDICATORS

Not even a World Cup win can save Argentina’s economy from decline

24-02-2023 10:08 Economy contracted more than expected in December even after the country won its much-celebrated third World Cup title, lending weight to view that recession lies ahead later this year.

ECONOMIC INDICATORS

INDEC: Economy grew 5.9% year-on-year in first 11 months of 2022

24-01-2023 21:59 November data shows Argentina’s economy contracted for a third straight month, further dampening the annual outlook for the coming 12 months.

BLOOMBERG

Rich investors pull out of Chile, leaving behind a US$50-billion hole

19-01-2023 14:45 Chile, Latin America’s stand-out economy for the better part of 50 years and a darling of Wall Street, is in many ways facing an existential moment.

Inflation Rises

Inflation hit 94.8% in 2022, highest rate in 32 years

12-01-2023 17:34 INDEC reveals that prices increased by 5.1% in December, continuing the general downward trend but accelerating slightly from the preceding month.

Minister's outlook

Economy can grow above 3% while slowing inflation, says Massa

08-01-2023 22:37 Economy Minister Sergio Massa says Argentina can record growth of 3% in 2023 in a feature-length interview with Perfil newspaper.

OPINION

2022: the errors of the economists

29-12-2022 02:31 The time has come to do what economists find so uncomfortable and what I find so useful: the annual balance sheet of predictions

by Gustavo González

ECONOMIC OUTLOOK

OECD forecasts slowdown for Argentina’s economy in 2023

22-11-2022 14:42 Argentina’s GDP will grow 4.4% this year and by just 0.5% the following; Global GDP will increase 3.1% in 2022 – nearly half the rate of previous year, forecasts Organization for Economic Co-operation and Development.

ECONOMIC INDICATORS

IMF maintains Argentina 2022 growth forecast at 4%

11-10-2022 17:44 International Monetary Fund maintains outlook for Argentina this year: 4% growth.

ECONOMIC INDICATORS

Economy stalled as inflation spiked in July

26-09-2022 17:30 Argentina’s economy plateaued in July as an inflation spike caused by political volatility paralysed some sectors.

WORLD ECONOMY

OECD: World economy to slow, 'paying the price of war'

26-09-2022 15:33 OECD reduces Argentina's growth forecast for 2023 by 1.5 points, predicting an expansion of 0.4% next year. Outlook for this year remains unchanged, with estimated growth of 3.6%.

ECONOMIC INDICATORS

Argentina's second-quarter economic growth surpasses expectations

21-09-2022 15:07 Economy grew more than expected in the second quarter of the year as rising commodity prices boosted exports.

ECONOMIC INDICATORS

INDEC: Economy grew 6% in the first quarter of 2022

23-06-2022 23:24 National statistics bureau reveals that unemployment remained stable in the first three months of the year, reaching 7%.

BLOOMBERG – ANALYSIS

Argentina's GDP growth slowed in first quarter as exports shrank

23-06-2022 23:22 Argentina's economy grew less than expected in the first quarter as the agricultural sector contracted and exports fell.

EDITORIAL

Coins in the air

30-04-2022 01:09 There was a time when virtually everybody except the economists defined the economy by its bottom line. Things are no longer so binary or linear – least of all when trying to size up the Argentine economy today.

ECONOMIC OUTLOOK

IMF warns of significant risks facing Latin American growth

26-04-2022 10:05 Latin America and the Caribbean facing significant risks to growth, warns International Monetary Fund; Region's economy to grow 2.5% this year, with Argentina's GDP expected to improve 4%.