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LatinNews Regional Monitor: Brazil & Southern Cone - 27 February 2019

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In brief: Argentina

* Local economic consultancy firm, Econviews, has revised down its GDP growth forecast for Argentina this year from 1.8% to 1.5%. Econviews has attributed its decision to the fact that the national inflation rate in the first weeks of the year has been higher than expected and the consensus now is that it will close the year at 32.5%, higher than the 30% previous forecast. In addition, Econviews has noted that the commitment by the central bank (BCRA) to maintain high interest rates to help stabilise the peso and dampen inflation, and the commitment by the Mauricio Macri government to reduce government spending in order to eliminate the fiscal deficit this year, means that the adoption of stimulus measures in support of increased growth by the authorities will not be forthcoming this year.