Argentina’s economy is expected to grow 6.2 percent next year, well above the threshold for payment on the country’s growth-linked debt and picking up from this year’s forecast expansion, Economy Minister Hernan Lorenzino said today.
The gross domestic product is seen growing 5.1 percent in 2013, he added. The forecasts are contained in the 2014 budget bill, which Lorenzino was presenting today to Congress.
The economy grew just 1.9 percent in 2012 after expanding 8.9 percent in 2011, according to official data.
The Government presented today the 2014 Budget draft bill which forecasts a 6.4 percent growth for Argentina, an exchange rate of 6.33 pesos per dollar, an increase of 5 percent in consumption and a 8.5 percent investment growth.
Economy Minister Hernán Lorenzino was formally presenting and addressing the Lower House today to explain and defend the central aspects of the 2014 draft Budget bill.
Lorenzino was joined by Economy Deputy Minister Axel Kicillof y and other members of the government’s economic team.
Source: Buenos Aires Herald