The IMF improved the growth projection for Argentina this year

From Washington, United States, the International Monetary Fund (IMF) spoke of the projections that Argentina will have in economic matters for this year, where higher growth is expected.

The organism revealed this information during the World Economic Outlook (WEO), a global expectations report prepared by the IMFand that this year in particular analyzes the effects of the war on the world economy.

The IMF improved the growth projection for Argentina this year — The Government must meet goals that it established with the IMF.

During his presentation, the IMF assured that growth projections for Argentina are 4%; one point above the value estimated in January this year, even the figure is above the evaluations (3.6%) of the World Bank.

In addition, it improved the projection for 2023, where a growth of 3% is expected. However, the agency also raised expectations about inflation this year, which is expected to reach 51.7%.

The Fund assures that the war will impact economic projections.

This, given that the price index has been marked by constant increases during the first quarter of the year, since only food suffered an increase of 20%.

However, within the goals set with the Fund in the new agreement, it was projected that annual inflation would close at 48%, a figure that the head of the IMF Kristalina Georgieva said it was necessary to “recalibrate”.

Argentina has the second highest inflation in the world.

Additionally, the agency projected that the current account surplus will continue at 0.5% of GDPwhile the unemployment rate will be around 9.2% this year.

Martín Guzmán will meet with the IMF staff

The Minister of Economy, Martín Guzmán, will participate in the assembly organized by the World Bank and the IMFso he will also meet with the staff of the organism to analyze multiple figures.

In May, the Fund’s staff will review the economic plan agreed upon with Argentina.

Among them, the goals that were established in the fiscal plan, about which the minister assured, have been fulfilled, since the country has managed to accumulate greater reserves in the Central Bank.

“I can confirm that the goals in the fiscal sphere, in the monetary sphere and in the accumulation of international reserves have been met in the first quarter,” said Guzmán.

Source link