A Critical Year for Argentina
In late January, Argentine government officials finally had some encouraging data that a long hoped-for economic rebound might actually be materializing. Figures from the national statistics agency INDEC showed that month-on-month economic activity went up 1.4 percent between October and November, the second straight month of increase. An internal government document leaked to Clarín in January estimated that growth had increased by close to one percent in the last quarter of 2016. While this was a far cry from the optimistic scenario painted by former Finance Minister Alfonso Prat-Gay, who was sacked last December, the numbers are feeding a narrative by the government of President Mauricio Macri that the Argentine economy is on a clear path to recovery. According to Minister of Production Francisco Cabrera, “all the conditions are in place for Argentina to grow between 3.5 and five percent” in 2017.
Read the full article, reprinted with permission from Latin Trade.
Photo Credit: Agencia Brasil do Fotografias / Flickr / Creative Commons
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