Private analysts consulted by the Central Bank of Argentina (BCRA) estimated that inflation in the South American country will reach 98.4 percent interannual for this 2023, above the level projected for 2022, informed today, Friday, the monetary authority.
The data comes from a new Relevamiento de Expectativas de Mercado (REM) released by the entity, in which 25 consulting firms and local and international research centers, and 13 financial entities in Argentina participated.
Analysts estimated that inflation in the South American country last year was 95.5 percent year-on-year, while for 2024, a deceleration of price increases is expected with a projection of 75 percent year-on-year.
Those consulted by the BCRA expect Argentina’s Gross Domestic Product (GDP) to grow 0.5 percent in 2023, with a better performance of the domestic economy for 2024, when the growth of 1.4 percent is expected.
Regarding the official exchange rate, analysts predicted it would reach 328.32 pesos per dollar by the end of the year, with a year-on-year variation of close to 89.9 percent.
On the other hand, they predicted that the country’s total exports would be around 84.73 billion dollars with a 5.4 percent drop in foreign shipments, while imports would reach 78.619 billion dollars with a 4.6 percent decrease.
Finally, analysts forecast an unemployment rate of 7.5 percent of Argentina’s economically active population at the end of 2023.