Economists see deeper Argentina contraction: central bank poll

economists see deeper argentina contraction central bank poll

BUENOS AIRES (Reuters) – Economists expect Argentina’s gross domestic product to shrink 1.9 percent this year compared to a 0.3 percent previously estimated contraction, according to the median forecasts of a central bank poll published on Tuesday.

Inflation in 2018 is now seen rising to 40.3 percent, versus 31.8 percent in the last monthly poll. The peso is expected to weaken to 41.9 per dollar by year end, versus 30.5 previously, the survey of 41 economists showed.

This week Argentine President Mauricio Macri announced austerity measures aimed at balancing the budget next year to shore up confidence in the country’s ability to pay its debt.

Reporting By Maximiliano Heath

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