The economy fell 5.1% in the first quarter of 2024

The economy fell 5.1% in the first quarter of 2024
The economy fell 5.1% in the first quarter of 2024

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It is the information that was given official figure to the recession of 2024. Today, Indec confirmed that GDP fell 5.1% in the first quarter of 2024, in a context of sharp decline in consumption and industrial production.

Despite the official enthusiasm for a rebound in the level of activity (“the economy is going to rise like a diver’s fart,” Milei said weeks ago), projections rule out a ‘V’ recovery and expect, at best, a gradual rise during the second half of the year. In fact, in their latest forecasts, both the World Bank and the International Monetary Fund (IMF) their prognosis worsened.

The organism that leads Kristalina Georgieva anticipate now that the gross domestic product (GDP) Argentine will fall 3.5% for this year, (the collapse would be 6% without considering the agricultural sector and its recovery after the drought of 2023). It was in his last staff report on the country, where the IMF, although it expects a 5% rebound by 2025, also warned about the risks of a longer-than-expected recession, which could generate social tensions.

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