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The Ministry of Economy and Finance (MEF) cut its GDP growth forecast to 2.5% after the impact was reported in the first months of the year.
“There is a revision of the growth forecast economic activity growth of 2.5% for 2023 and we expect an average growth of 3.3% between 2024 and 2026,” Economy Minister Alex Contreras said.
Previously, the MEF estimated that economic growth in 2023 would be above 3.1%, and even last year, growth was forecast to be between 3% and 3.5%.
Contreras acknowledged that there was an important and negative impact social conflict in the first quarter of the year, which forced us to reconsider growth, however, he assured that the economy is recovering.
“After what we saw in January and February with the fall in GDP, we are seeing an acceleration that we want to maintain, and April numbers already show us growth above the pre-pandemic period, and there are indicators that will force this to continue. On the one hand, public investment, there is double-digit growth in the first quarter,” he explained.
Similarly, the Minister of Economy insisted that indicators such as expectations private investment they have improved.
“There has been a significant improvement in terms of expectations, with many indicators again showing optimism in terms of hiring and investment, this will lead to a faster recovery between the third and fourth quarters.”
Except, contraras He noted that a legislative decree on the delegation of powers was approved today with such a measure as automatic obtaining of city permits for faster launch of projects, a system for the rapid execution of state investment projects and others.
Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.