RIO DE JANEIRO, BRAZIL – Argentina’s economy is set to contract by 11.8 percent in 2020, a slightly rosier outlook than a previous estimate of a 12.1 percent drop, according to a central bank survey of economists and analysts on Friday.
The bank´s Market Expectations Survey (REM) predicts inflation at 36.9 percent in 2020. Prices are expected to jump 3 percent in September, the poll showed.
“During the third quarter of 2020, GDP would increase 9.8 percent compared to the second quarter of 2020, which suggests that the period of greatest impact of the coronavirus pandemic is behind us,” the poll showed.
The economists polled said the average official exchange rate in Argentina would reach 83.8 pesos per dollar in December 2020 and 121.5 pesos per dollar in December 2021.
The poll surveyed consulting firms, research centers, financial entities and analysts between September 28 and 30.
Source: Reuters