- General inflation in Argentina will reach 55% in 2019 and 38% in 2020;
- Argentina’s gross domestic product will contract -2.5% this year and -1.1% in 2020.
Following the Market Expectations poll that took place during the last few days of August (28th – 30th), the Argentine Central Bank (BCRA) presented this Tuesday (September 3rd) a bleak forecast for its national economy in the next two years.
According to the survey, general inflation will rise to 55% (15 points above the previous polls) this year and will remain at 38% (10 points above the previous survey) in 2020, painting a worse picture of the current state of Argentina’s economy after the presidential primaries on August 11th, whose results shook the political landscape of the country.
Projections for the country’s gross domestic product (GDP) have also suffered in the poll presented by the BCRA. Analysts expect the GDP to drop -2.5% in 2019 and -1.1% in 2020. This is all the more demoralizing, since previous surveys suggested a growth of 2% for 2020. President Macri is facing a tough month ahead, as he prepares as an underdog for the general elections, all the while struggling to keep the country’s economy afloat.