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LatinNews Daily - 24 March 2021

In brief: Argentina’s economy contracts for third year in a row

* Argentina’s national statistics institute (Indec) has released the latest figures on GDP growth, which show that the Argentine economy contracted by 9.9% in 2020. A result of the coronavirus (Covid-19) pandemic, this sharp contraction is on par with the more recent projections, and seals the country’s third consecutive year of negative growth. Fourth quarter results confirm a trajectory of recovery, however; GDP in Q4 2020 grew 4.5% compared with Q3 (and contracted 4.3% year-on-year). The Argentine government currently forecasts 5.5% growth for 2021, but the private sector is more optimistic, expecting 6.2% growth according to the central bank’s (BCRA) latest monthly survey of market analysts (REM). 

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