Argentina's economy is likely to contract 12% in 2020 due to the effects of the COVID-19 pandemic, a central bank survey of economists showed on Friday, a slightly more positive outlook than a month earlier.
FILE PHOTO: A shutter of a closed shop is pictured during the spread of the coronavirus disease , in Buenos Aires, Argentina June 29, 2020. REUTERS/Agustin Marcarian
The forecast compares to the 12.5% estimated the previous month in a survey of specialists published on Friday by the Argentine central bank . “The growth expectation for the remaining quarters of 2020 suggests that the effect of the coronavirus pandemic is perceived as transitory,” the bank said of the survey.
The economists polled by the central bank saw inflation for 2020 at 37.8%, and inflation in August at 2.7%.
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