Argentina 2021 economic growth forecast raised to 7.2% – central bank survey

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BUENOS AIRES — Argentina’s economy will grow 7.2% in 2021, analysts said in an Argentine central bank poll published on Friday, an improvement on their forecast last month of 6.8% growth.

Inflation in 2021 is seen at 48.4%, 0.2 points percentage above last month’s estimate, according to 42 respondents to the Market Expectations Survey (REM) by the Argentine central bank on Aug. 27-31.

The analysts saw inflation at 2.8% for August.

Latin America’s third-largest economy has suffered from high inflation for several years and has been in recession for three years. These economic woes deepened since the 2020 COVID-19 pandemic.

The poll participants predicted the average nominal exchange rate in Argentina will be 105.75 pesos per dollar in December, and 154.5 pesos per dollar by December 2022. (Reporting by Maximillian Health, Writing by Aislinn Laing; Editing by Richard Chang)