LatinNews Daily - 24 June 2025

*Argentina’s national statistics institute (Indec) has reported that the country’s GDP grew by 5.8% in the first quarter of 2025 compared to the same quarter in 2024, while GDP expanded by 0.8% compared to the previous quarter. This represents the third consecutive quarter of quarter-on-quarter growth and the second consecutive quarter of yearly growth. Significant yearly growth was registered in financial mediation (+27.2%), fishing (+11.6%), and hotels and restaurants (+9.0%), while the biggest decline was registered in private homes with domestic service (-2.2%). In terms of supply and demand, gross fixed capital formation was up 31.8% from the previous year, while exports of real goods and services were up 7.2% and private consumption grew by 11.6%. Public sector consumption registered an annual decline of 0.8%. On social media President Javier Milei said the GDP results were “tremendous”, criticising media reports that have focused on the dip in public sector consumption.

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