Latinnews Daily - 22 September 2017

Argentina: The national statistics institute (Indec) has released new economic growth figures showing that the country’s GDP increased by 2.7% year-on-year in the second quarter. The second quarter results bring the accumulated growth figures for the first six months of the year to 1.6%. This is the second consecutive quarter that Argentina’s economy has posted positive growth year-on-year on Indec figures (and the third consecutive quarter in which there has been quarter-on-quarter growth), suggesting that the economy is in solid recovery following the 2.3% contraction it posted in 2016. However, Argentina’s domestic economy is still performing below the expectation of the government led by President Mauricio Macri, which at the start of the year projected GDP growth of 3.5% this year. After a weak first quarter growth it adjusted this to 3%. Meanwhile the consensus forecast by economists polled by the central bank (BCRA) is for 2.8% GDP this year. 

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