News of growth

World Bank forecasts 5% growth for Argentina in 2025

Today 09:52 After two years of recession, President Javier Milei’s government will see approximately five percent in GDP this year, followed by a further 4.7 percent in 2026, predicts World Bank.

ECONOMIC INDICATORS

Economy expanded faster than expected in October

24-12-2024 06:52 Argentina’s economy expanded more than expected in October, according to official data.

End of the recession?

Economy rebounded in Q3 but activity remains below 2023 levels

17-12-2024 10:12 Argentina’s economy grew by 3.9% in the third quarter compared to the previous months, but fell 2.1% year-on-year. Recovery marked by uneven performance across sectors.

ECONOMIC INDICATORS

Argentina exited recession as Milei eyes growth before midterms

16-12-2024 21:22 Argentina emerged from a brutal recession in the third quarter; Gross domestic product expanded 3.9% from July to September compared to the previous three-month period, better than analysts’ expectations.

ECONOMIC OUTLOOK

Argentina in ‘transition’ to growth, says top World Bank official

12-11-2024 22:21 Top World Bank official William Mahoney praises advances by President Javier Milei's government and says Argentina is "in transition" towards the recovery of growth.

ECONOMIC OUTLOOK

IMF casts doubt over Milei administration’s inflation estimate

22-10-2024 12:38 The International Monetary Fund estimates Argentina’s inflation rate in 2025 will hit 45%, a significant variation from the 18% projected by Javier Milei’s government in its budget bill.

INTERVIEW

Latin America’s fiscal policies risk inflation, World Bank says

09-10-2024 18:25 Fiscal imbalances could threaten Latin America’s success in taming inflation, warns top World Bank economist.

ANALYSING ARGENTINA

No future for Milei

28-09-2024 06:33 President Milei’s first speech at the UN General Assembly was the latest example of the many fruitless symbolic battles that Argentina’s 21st-century Don Quixote chooses to fight to feed his foundational ego trip.

by Marcelo J. García

ECONOMIC INDICATORS

Economy grew more than expected in July under Milei

25-09-2024 22:28 Argentina’s economy posted a larger-than-expected upturn in July, a promising sign for President Javier Milei.

ECONOMIC INDICATORS

Economic activity increased 1.7% between June and July, says INDEC

25-09-2024 22:28 Economic activity increased 1.7% between June and July, according to the INDEC national statistics bureau. However, it fell 1.3% in the year-on-year comparison.

ECONOMIC OUTLOOK

OECD forecasts Argentina's economy will contract 4% this year

25-09-2024 08:53 OECD experts worsen forecast for Argentina's economy, predicting GDP contraction of 4% this year and annual inflation of 147.5%.

ECONOMIC INDICATORS

INDEC reports 5.1% Q1 slump in GDP, unemployment on rise

24-06-2024 20:58 Argentina's economy contracted by 5.1% in first quarter, says INDEC; Unemployment hit 7.7% as Milei government’s austerity measures began to kick in.

ECONOMIC INDICATORS

Economic activity plunging amid austerity, confirms INDEC

23-05-2024 00:30 Bureau’s monthly estimate of economic activity records 8.4% drop for March; Industry and construction collapse, 5.3% slump in first quarter of 2024.

ECONOMIC INDICATORS

Economy extends downturn amid Milei’s cuts

23-05-2024 00:07 Economy shrank 8.4% in March from a year ago. On a monthly basis, activity dropped 1.4%, according to government data published Wednesday.

SOCIETY

Homeless numbers in Buenos Aires up 14% over past year

21-05-2024 16:36 Latest census conducted in late April by City Hall shows more than 4,000 people living rough on the streets of the nation’s capital; Government vows to alter policies, but critics say Buenos Aires needs to invest in affordable housing.

by Enrique Garabetyan

Bloomberg

Argentina warns of debt woes if US$1.5-billion award not reversed

21-05-2024 14:20 Argentina risks struggling to service some of its debt if it’s forced to pay out US$1.5 billion in damages a UK court awarded to investors last year, lawyers argue.

IMF

IMF expects Argentina's economy ‘to start growing’ in second semester

16-05-2024 17:52 Multilateral lender reiterates its satisfaction with the progress made by President Javier Milei's government in Argentina.

ECONOMIC OUTLOOK

Milei’s team sees inflation slowing faster than economist survey

24-04-2024 12:04 President Javier Milei’s economic team sees monthly inflation slowing much faster this year than analysts anticipate.

ECONOMIC OUTLOOK

IMF ups global growth forecast but signals medium-term pessimism

16-04-2024 13:25 International Monetary Fund slightly raises outlook for global growth this year to 3.2%; Multilateral lenders reiterates forecast that Argentina's GDP will fall by 2.8% and that inflation in 2024 will be 150%.

OPINION & ANALYSIS

No growth in Argentina for 12 years (and it could be 13)

08-03-2024 16:24 Data from Argentina’s INDEC national statistics bureau revealed that the economy fell by 4.5% in 2023. Over the course of the 2011-2023 period, it barely grew by 0.8% – a virtual stagnation lasting more than a decade.

ECONOMIC OUTLOOK

Analysts improve outlook, forecast inflation slowing to 210% in 2024

08-03-2024 10:48 Experts consulted for Central Bank’s REM survey of market expectations lower forecasts for inflation in the next few months, predicting 15.5% rate for February and a 3.5% economic slump this year.

ECONOMIC INDICATORS

Brazil economy grew 2.9% in 2023, says official data

01-03-2024 16:08 Brazil's economy expanded 2.9% in 2023 after a fourth quarter of zero growth, according to data released Friday by the IBGE national statistics agency.

ANALYSIS

Economy shrank in December by most since pandemic

22-02-2024 21:14 Argentina’s economy contracted in December by the most since the peak of the Covid-19 pandemic.

ECONOMIC INDICATORS

Economic activity in Argentina fell 1.6% in 2023, reveals INDEC

22-02-2024 20:36 Economic activity in Argentina dropped 1.6% last year with a 4.5% contraction in December compared to the last month of 2022.

COURT RULING

Argentina ordered to pay deposit in UK hedge funds case

22-02-2024 11:24 Argentina must pay a large deposit in a case brought by four hedge funds seeking US$1.5 billion in compensation for losses in the nation’s growth-linked securities.

TRAVEL & TOURISM

Latin American travel firm Despegar eyes takeovers, robust growth

31-01-2024 19:59 Argentine travel booking firm Despegar.com plans to boost revenue and scout for takeover targets across Latin America.

BLOOMBERG - ANALYSIS

IMF sharply cuts Argentina’s growth forecast on Milei’s plan

30-01-2024 19:14 The government’s push to cut down on spending is “absolutely needed” to rein in inflation, which the IMF estimates will slow down to near 150 percent a year by December.

ECONOMIC OUTLOOK

IMF cuts Argentina 2024 growth forecast, forecasts 2.8% contraction

30-01-2024 15:55 Multilateral lender warns that inflation is expected to increase in the short term, projecting growth of minus 2.8 percent this year and plus five percent in 2025.

ECONOMIC INDICATORS

Economy posted mild contraction amid run-off election

23-01-2024 22:40 Economic activity in November fell 1.4% from October, according to government data. From the same month a year earlier, activity fell 0.9%.

Lithium in Argentina

India signs lithium mining deal with Argentina

16-01-2024 07:49 Indian state firm signs lithium mining deal with Catamarca Province; Five-block deal agreed between Khanij Bidesh India and Argentina's state-owned Camyen SE.

ECONOMIC OUTLOOK

World Bank forecasts 2.7% growth for Argentina in 2024

09-01-2024 16:46 Argentina’s economy likely contracted 2.5% last year, but will record growth of 2.7% in the coming 12 months, forecasts World Bank, which warns of “economic uncertainty” and continuing inflation.

ECONOMIC INDICATORS

Economy shrank less than forecast during election

21-12-2023 20:25 Argentina’s economy posted a slight contraction in October, falling 0.1% from a month earlier.

NEW GoVERNMENT

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.