Argentina’s economy shrank by 1.7% in 2024. Late in the year, it showed signs of recovery with a 1.4% surge in the fourth quarter compared to the previous quarter. Inflation has slowed to 66.9%, but high costs and reduced public services persist for citizens.
In 2024, Argentina’s economy contracted by 1.7% year-over-year, though it experienced growth in the last quarter. According to the national statistics agency, the country recorded a 1.4% expansion in the fourth quarter compared to the third quarter, marking consecutive quarterly growth. Year-over-year growth for the fourth quarter reached 2.1%, surpassing analysts’ expectations of a 1.7% increase.
Despite this late-year rebound, the economy faced challenges in the beginning of 2024, primarily due to reduced industrial activity resulting from stringent austerity measures under President Javier Milei. However, recovery was seen in the latter months of 2024.
Inflation in Argentina has moderated to 66.9% as the government attempts to address economic difficulties by eliminating capital controls. Nevertheless, citizens continue to struggle with rising costs and reduced public services, indicating persistent economic challenges ahead.
Argentina’s economy contracted in 2024 but rebounded towards year-end, with positive quarterly growth reported in the final quarter. Despite improvements, the economy remains under strain due to austerity measures, high inflation, and ongoing challenges for the population regarding cost of living and public services.
Original Source: www.tradingview.com
