More Argentines are likely living in poverty now compared with last year, President Mauricio Macri said on Friday, as the country's economy slides toward recession following a currency crisis and a severe drought that harmed farm output.
Argentina's President Mauricio Macri is acknowledging for the first time that the country's annual inflation rate will be 30%. Macri said Tuesday that the high consumer prices unfortunately are a product of this storm. He was referring to a sharp devaluation of Argentina's currency and a recent run on the Peso.
Argentina's economy shrank 5.8% in May versus the same month last year, government statistics agency Indec said on Tuesday, the second straight month of declines in a sign of looming recession and a possible GDP contraction in 2018.
Consumer prices rose 3.7% in June in Argentina, official data showed on Tuesday. That brought 12-month inflation to 29.5%, up from 26.3% in the 12 months through May, the INDEC national statistics bureau announced, which makes it the highest monthly recorded figure of the last two years.
Argentine seafood exports grew by almost 7% in volume and around 16% in dollar value during 2017, according to the final figures published by the Under-secretariat of Fisheries in its latest Report. Data from the Economics Department, based on information from INDEC shows that fisheries exports totaled US$ 1,978bn, a 16.4% higher compared to 2016, while the volume was up 6.9% to 475,591 tons.
Argentina's economic activity expanded 4.0% in June compared with the same period the prior year, government statistics agency Indec said on Thursday, the latest sign of economic recovery ahead of legislative elections in October.
Argentina's economy grew 0.8% in March from a year earlier, the Indec statistics agency said on Tuesday. The economy also grew 1.9% in March versus February, Indec said.On Tuesday the Argentines central bank also kept its benchmark interest rate at 26.25% and said it believes the country's inflation rate is easing in May.
Argentina's statistics agency Indec, said on Wednesday 12-month inflation through April was 27.5%, the first time it has published 12-month inflation since President Mauricio Macri took office in December 2015 and revamped data calculations. Indec said April inflation was 2.6%, above median analyst expectations for a consumer price increase of 2.1 percent.
Argentina's economic activity grew in January year to year. Economic activity was 1.1% percent higher in January than twelve months before, the first year-on-year growth since last March, according to the latest release from the revamped stats office, Indec.
Argentina's official poverty index in the second half of 2016 dropped to 30.3%, an estimated 12.7 million people, from 32.2% in the first half according to the country's stats office Indec. The 30.3% index includes 6.1% of indigence, which is also below the 6.3% of the first half. The drop means that 800.000 people are no longer in the poverty category index.