Note

June 08, 20 - 5:19 pm - LABS

Analysts predict three years of recovery for Argentina’s economy

The forecasts for Argentina’s GDP made by economists consulted in a Central Bank research are not encouraging: for 2020, they foresee a 9.5% drop in the economy, followed by an improvement for 2021, but that will not compensate for the collapse of this year. In 2022, the Argentinian economy will still be at a level 3.5% below the pre-crisis scenario.

Analysts predict that in 2021 there will be 4.5% growth and, by 2022, another increase of 2%, according to the responses they gave in the Market Expectations Survey, according to Clarín.

On Monday, Argentina’s government extended for another 60 days the rules that allow the suspension of workers with a 25 percent reduction in their wages, Clarín also reported.

This decision, signed by the Minister of Labor, Claudio Moroni, had been agreed days ago between the national authorities, businessmen and unionists before the expiration of the original agreement, which was in force until June 1st.