For 2019 inflation expectations rose to 14.0 percent from 13.5 percent and to 9.7 percent from 9.1 percent for 2020.
In addition to rising inflation, Argentina is experiencing its worst drought in 30 years, which has led economist to lower their growth forecasts for this year to 2.5 percent from 2.9 percent due to the expectations that the harvest of corn and soybeans, which make up more than one-third of its exports, will decline.
Argentina’s economy grew by an annual rate of 4.2 percent in the third quarter of last year and is estimated to have grown 2.9 percent in 2017.
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