Argentina’s Productive Development Minister Matias Kulfas foresees a 5% to 6% economic expansion this year. The outlook was in consideration of preliminary data, with the coronavirus’s impact also put into account.
A group of economists surveyed by the country’s central bank expected a 6.2% increase even after the economy recorded a 10% contraction in 2020. In addition to this, Kulfas believed that it was upbeat production and employment that prompted a shift in industrial policy.
The country’s economy has been fluctuating since 2018, and the government shut down large portions of the industrial sector as the coronavirus crisis raged on. But many restrictions were lifted in recent months, allowing the economy to recoup.