JPMorgan analysts expect the country’s GDP to decline by 3% in 2024 and grow by 5.2% in 2025.
The country’s GDP in the third quarter of 2024 increased by 3.9% compared to the previous quarter, when it decreased by 1.7%. The economy’s return to growth was driven by a recovery in consumer spending and business investment compared to the beginning of the year, as well as strong growth in exports of agricultural and mining products. This is stated in the message of the statistical agency (INDEC).
In annual terms, Argentina’s GDP fell by 2.1% in the third quarter.
The Financial Times notes that the economy has returned to growth in quarterly terms a year after Javier Miley took office as President of Argentina. Miley drastically reduced budget spending and also began an active campaign to deregulate the economy. The measures he took made it possible to weaken inflation, which reached three-digit amounts.
JPMorgan analysts expect Argentina’s GDP to decline by 3% in 2024 and grow by 5.2% in 2025. However, this increase will only allow GDP per capita to return to post-Covid 2021 levels.
Earlier, the media wrote that investors are no longer betting that Argentina is inevitably approaching default, as the country’s President Javier Miley has seized the bond markets with his plans to reform the second largest economy of South America.
The President of Argentina has liquidated the tax service
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Source: korrespondent
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.