RIO DE JANEIRO, BRAZIL – Argentina’s Gross Domestic Product (GDP) accumulated an increase of 10.3% year-on-year between January and November 2021 compared to the same period of the previous year, the state statistics institute Indec reported on Tuesday.
In November, economic activity registered a 9.3% year-on-year increase and 1.7% compared to October.
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The statistics robust the impression that the country is overcoming the recession into which it fell in 2018 and which flared up in 2020, the first year of the Covid-19 pandemic, with a 9.9% drop in GDP.
Official and private estimates agree that the economy closed in 2021 with a 10% rebound. For 2022, the International Monetary Fund estimated a 3% growth.
The growth of economic activity is for the center-left government of Alberto Fernández, one of the key points in the negotiations with the IMF to refinance the debt with the organization for more than US$44 billion.
With information from Reuters