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The Argentine economy in 2023: few engines and with an eye on exports

12/13/2022

The latest forecasts of economists speak of a growth of only 0.7%, in line with those of international organizations. The axes are minerals, energy and agriculture.

The consensus of the international economic establishment is that Argentina's economic growth will be low in 2023. The Monetary Fund and the World Bank estimated it at 2% for the whole year; the OECD, an association in which both nations with strong economies and others with less development converge, and to which Argentina aspires to join, estimated a meager 0.5%. ECLAC, a United Nations agency specialized in economic and social research on Latin America, expects a 1%.


This view is shared by local analysts. Before the start of this extra-long weekend, the Central Bank published its Survey of Market Expectations (REM) corresponding to November, in which 26 consulting firms and 13 financial institutions participated. There, the respondents turn their gaze on various aspects of the progress of the economy. The most well-known is that of inflation, but they also pronounce on the growth of the economy.

In that sense, those who participated in the REM pointed out that economic growth in 2023 will be 0.7%. The interesting thing is the increasingly pessimistic outlook of these analysts whom the BCRA consults month by month. The number is 0.2 percentage point lower than the forecast they gave at the end of October, and 0.4 percentage point lower than what was said in August.

Source: https://www.tiempoar.com.ar/

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