The IMF improved its forecast and projects that Argentina will grow 6.4% this year

The International Monetary Fund (IMF) published its estimates on the world economy on Tuesday. The organism estimated that Argentina will grow 6.4% this year, what a 0.6 percentage point improvement in relation to the previous report, published in April, which estimated an improvement of 5.8%. “Argentina was benefited by a increase in the prices of their exports, especially in food. This is helping the economy to recover, “said Gita Gopinath, economic adviser and director of the Department of Studies of the multilateral entity, at a press conference.

In turn, Petya Koeva Brooks, deputy director of the IMF’s Research Department added that, in addition to the rise in the price of Argentine exports, there were two other factors that prompted the agency to improve the forecast. In this sense, the exchange with business partners, particularly with Brazil, and the vaccination rate against Covid-19, which “is being faster than previously seen.”

In this way, the forecasts for the Argentine economy in 2021 were located above the average growth forecast for the region, which stood at 5.8%. It also exceeded expectations for Brazil (5.3%) and Mexico (6.3%). At the same time, the local improvement would be greater than world growth, which the IMF estimated at 6%.

To 2022On the other hand, the IMF expects a slowdown in the growth of the local economy, which would advance 2.4%. This estimate was a 0.1 percentage point cut compared to the previous forecast. In addition, the estimate is lower than the average growth for the region and the world, which would reach 3.2% and 4.9%, respectively.

News that is being updated.

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