[ad_1]
The South American country's economy grew by 2.9% in 2017.
The Argentine economy is expected to expand again in 2019, said Wednesday the President Mauricio Macri, without giving an estimate for this year, that many economists expect a recession following a sharp depreciation of the local currency and a recent takeoff of inflation.
The South American economy is growing by 2.9% in 2017 and the government is predicting further expansion for this year, but the turbulence that has been hitting local markets since April – and which has led Macri to ask for IMF financial badistance – have overshadowed the outlook.
"Obviously, the growth we have just reduced will decrease. We are going to have a few months during which what we decide and what we have formulated must mature, but we will resume growth next year, "said the Liberal leader at a press conference.
Last week it was revealed that the government could delay the implementation of part of a tax reform approved last year, to meet the budget deficit targets agreed with the IMF.
"A list of alternatives was made, which Macri's column said when asked about the issue.
Macri also avoided defining whether the government was considering stopping the current monthly reduction program on soybean and its derivatives, which was included in an option published in an IMF document released Friday, but one official said that 39, it was dismissed.
As part of the agreement for a $ 50 billion US financing line that was concluded in June with the IMF, Argentina agreed to reduce its Meanwhile, Macri said that due to the development of Vaca Muerta's huge hydrocarbon deposit, the third largest economy in Latin America will become an exporter. net in three years and that will export more than 500,000 barrels of oil per day in four or five years.
Source link
