LatinNews Daily - 01 July 2022

In brief: Argentina’s economic growth edges up

* Argentina’s national statistics institute (Indec) has released the latest figures on its monthly index of economic activity (Emae), showing that economic activity increased 0.6% in April 2022 as compared to the previous month and 5.1% year-on-year. The sectors which posted the highest growth year-on-year in April 2022 were fishing (+68%), hotels & restaurants (+40.1%) and mining & quarrying (+17.2%). The only sector to register a decrease compared to April 2021 was agriculture, farming, and forestry, down 7%. According to Indec’s latest figures, Argentina’s GDP grew 6% in the first quarter of 2022 compared to the same period of last year. However, the pace of quarterly growth fell, increasing by just 0.9%. The latest projections by the International Monetary Fund (IMF) predict that Argentina’s GDP will grow by 4% in 2022, compared to 10.2% growth in 2021.

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