Economy

Argentina 2020 economic drop seen tightening to 10.9%: central bank poll

The experts polled forecast that the exchange rate would reach 126.45 pesos per dollar at the end of 2021

Photo: REUTERS/Agustin Marcarian
  • The bank’s monthly REM survey predicted annual inflation at 36.7% at the end of the year;
  • The experts polled lowered projections for the exchange rate to 83 pesos per dollar by the end of the year.

Argentina‘s economy is set to contract 10.9% in 2020, according to a central bank survey of economists on Friday, an improved outlook versus the month-earlier estimate of an 11.6% drop.

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The bank’s monthly REM survey, which polled 42 experts, predicted annual inflation at 36.7% at the end of the year, up from its previous forecast of 35.8%.

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The experts polled lowered projections for the exchange rate to 83 pesos per dollar by the end of the year, and forecast that it would reach 126.45 per dollar at the end of 2021.

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