Argentina draft budget sees 3-4% economic growth in 2021 -gov't source

Tin Tức Forex
Tác giả : proforex
Lúc 22:57, 14/09/21

By Jorge Iorio

BUENOS AIRES, Sept 14 (Reuters) - Argentina's draft budget, expected to be unveiled soon, will include plans for economic growth of between 3% and 4% in 2022, a government source told Reuters on Tuesday, slightly lower than targets the government has previously flagged.

The draft, which will need to be approved by the country's Congress, pegs inflation next year at between 30% and 40%, with a primary fiscal deficit between 3% and 3.5%, the source added, asking not to be named as the information was not yet public.

The draft budget comes after the government suffered a major blow in midterm primary elections on Sunday, which showed it falling back against the conservative opposition, hurt by a painful rise in poverty during the COVID-19 pandemic.

Argentina's economy is forecast to grow some 7% to 8% this year after a 10% contraction in 2020, while inflation is likely to exceed 40%. The country is a major exporter of soy, wheat, corn and beef, its main sources of much-needed foreign currency.

The government is locked in talks with the International Monetary Fund (IMF) to renegotiate some $45 billion in payments the country cannot make. Its economic plan will be a key element of those discussions.

President Alberto Fernandez said last month the economy would likely grow about 4.5% in 2022, though a central bank poll of analysts has estimated growth of 2.5% next year.
Reporting by Jorge Iorio; Writing by Nicolas Misculin; Editing by Adam Jourdan and Jonathan Oatis

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