BUENOS AIRES (Reuters) – Argentine economists on Friday predicted a worsening recession and raised their inflation estimate to 44.4% from 40%, according to the median forecast in a monthly central bank poll.
The 39 analysts surveyed from April 27 to 30 saw an economic contraction of 7.0% this year, according the median forecast, versus a 4.3% estimated contraction in the poll released a month earlier.
While they revised downwards their Gross Domestic Product projections, the analysts said they expected a gradual recovery of the economy from the third quarter, characterizing the new coronavirus pandemic which has worsened Argentina’s already precarious financial position as “transitory.”
Source: Economy - investing.com
