OECD reduced to 0.1% growth projection for Argentina’s economy

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The Organization for Economic Co-operation and Development (OECD) reduced to 0.1 percent its growth projection for the Argentine economy for 2023.

According to its most recent report on global economic prospects yesterday, Friday, it warned about the effects of inflation in this country.

0.4 percentage points reduced the new estimate about the forecast made last November by the organization, which foresaw a 0.5 percent growth in Argentina’s Gross Domestic Product (GDP).

Thus, according to the organization, Argentina, the third largest economy in Latin America, will grow this year below Brazil (1 percent) and Mexico (1.8 percent).

, OECD reduced to 0.1% growth projection for Argentina’s economy

The OECD estimated that by 2024 the South American country’s economy would recover slightly, with a growth of 1.8 percent.

Regarding inflation, the organization warned about “very high” price increases in the country and other economies such as Turkey.

The government of President Alberto Fernández below the estimate maintains the OECD’s projection for the growth of the Argentine economy.

The Executive contemplates in its 2023 Budget a GDP variation projection of 2 percent for the current year.

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