For the OECD, the economy will start to recover, but will fall by 1.8% this year

Argentina will gradually exit the recession, with quarterly growth rates that will be positive again this year, thanks to buoyant exports, predicts today the Organization for Economic Co-operation and Development (OECD). ) in its half-year report on future prospects. the country.

According to the OECD, the country's GDP will fall 1.8% this year, a tenth less than I had predicted in November.

However, it has revised downward its forecasts for 2020, when the Argentine economy will have easily overcome the recession to develop. 2.1% against 2.3% planned six months ago.

For the agency based in Paris, various threats still weigh on the country, which puts the recovery at risk. The main ones are the "restrictive macroeconomic policies and the political uncertainty before the elections of October 2019, "he said.

In addition, he highlighted the problems that currently affect Argentina, focusing on high inflation rates that respond to the sharp devaluation of the currency.

To counteract its effects, praised the "ambitious" tax plan the government of Mauricio Macri, which is expected to reach the budget balance this year and achieve a primary surplus of 1% of GDP in 2020, compared to the primary fiscal deficit of 2.4% with which the 2018 financial year is completed. the commitment made with the IMF.

He also noted the Central Bank's efforts to pursue a more restrictive monetary policy due to the recent acceleration of inflation, while stressing that structural reforms to improve productivity will still have to be advanced.

A slowdown in international trade could limit export growth, warns the OECD, which nevertheless estimates that stronger domestic demand could offset and lead to GDP growth of over 2% next year. said the agency. EFE.

Argentina is struggling to join the OECD as a member, for which it would already have the support of other partners.