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LatinNews Regional Monitor: Brazil & Southern Cone - 28 June 2018

In brief: Argentina

Argentina: Marcos Peña, Argentina’s cabinet chief, has said that the negative impact of the current drought which has been afflicting the country has led the government to revise down its economic growth estimate for 2018 by one percentage point to 1%-2%. Presenting a balance sheet before the national senate, Peña also said that exports were down by US$8.5bn. His announcement followed figures released on 26 June by Argentina’s national statistics institute (Indec) which show that economic activity in Argentina contracted by 0.9% in the month of April compared with the same month in 2017. When compared with the previous month, economic activity contracted by 2.7%.

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