Luis Caputo is more pessimistic than Marcos Peña with the growth of the Argentine economy for this year

The President of the Central Bank, Luis Caputo presented his Report on Monetary Policy (IPOM) on Thursday evening, where he details not only what was past but also some indications of what will come.
In terms of the real economy, the Center also has forecasts that – not necessarily – coincide with the government's vision. In part of the statement, the monetary authority notes that in its reference scenario growth of about 0.4% is expected by 2018 and a gradual strengthening of the economy by 2019.
"After the contraction of activity in the second quarter, the baseline scenario of the BCRA provides for a gradual recovery of GDP from the third quarter of 2018 on the basis of the expected performance of the Bank. 39, agricultural activity, the normalization of the financial markets and the rise in real income as a result of the decline in monthly inflation expected for the second half of the year, "explains the Central Bank.

Although 0.4% is in line with the estimate of the International Monetary Fund (IMF) and the market consensus measured by the Market Expectations Survey (MER), it do not take the projections themselves from the government.
According to the latest "Letter of Leadership", a publication of Chief of the Cabinet of Ministers on Management and Public Policy, published the same day as the IPOM of Caputo, estimates growth of 1% for this year .
"Our country has been particularly affected because of the high current account deficit, one of the latent risks of the progressive strategy. That's why the government revised the growth forecast for 2018, which went from 3% to about 1%. two quarters by the end of the year while the economy absorbs the effects of the depreciation of the peso and inflation higher than expected, will be difficult . we are confident that the Argentine economy will resume its growth path from next year, "says the portfolio headed by Marcos Peña.