Economists participating in the Market Expectations Survey (REM) estimated that the gross domestic product (GDP) will contract by seven percent, while inflation will reach 44.4 percent.
The data belongs to the survey presented today Friday by the Central Bank of the Argentine Republic (BCRA).
In terms of GDP, the REM fell 2.7 percentage points with respect to the previous projection, to forecast a fall of seven percent, as a result of the economic situation caused by the coronavirus.
“At the end of April, market analysts projected that retail inflation for December 2020 will stand at 44.4% year-on-year, increasing by 4.4 percentage points the level estimated in the forecasts provided at the end of March,” he said. .
On retail prices, the survey predicts a rise in inflation, going from 2.3 monthly in April to 3.6 percent in September and October.
In monetary matters, the survey raised the official exchange rate with the dollar by the end of the year by 2.2 pesos, placing it at 85.4 pesos per dollar in December 2020 and 120.1 pesos per dollar in December 2021.
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