On the other hand, multilateral organizations such as the IMF and ECLAC initially gave a forecast of 4.9%, although later the same organizations recalculated these estimates upwards. In particular, last July the IMF argued that the Argentine economy was going to grow 6.4%, and then, in October 2021, its forecast at 7.5%, according to the latest World Economic Outlook report.
Also, despite the impact of the pandemic, “manufacturing sector production is already 5.5% above 2019 levels “, underlined the report of the Observatory of Public Policies of the UNDAV directed by the economist Santiago Fraschina.
“Despite the chaotic scenarios of the establishment, real investment in Argentina grew rapidly. It has already reached highs in the last three years, with an interannual growth of 41.9%“, considered the specialist.
Fraschina said that “although the recovery of economic activity is vigorous and in fact exceeded all growth forecasts of consulting firms and international organizations, the pandemic is still not controlled worldwide.”
That is why, he continued, that “it will be of vital importance to sustain countercyclical monetary and fiscal policies to consolidate the reactivation of the productive forces.” On the other hand, he evaluated that the “socio-labor indicators show an improvement, as the macroeconomy continues to order.”
Thus, in September 2021, “the total number of people with registered work exceeded by 85,200 workers those computed in the same month of 2019.”
“It should be noted that, in an adverse scenario for the full expansion of the productive forces, the evolution of registered work denotes continuous growth from the beginning of 2021 to September. Also, in seasonally adjusted terms, a positive variation of 0.6% was observed. “the report stressed.
Finally, they highlighted that “in the last twelve months the Total Registered Salary Index accumulated an increase of 54.2%, while the Registered Private Sector Index expanded by 52.8%, in turn, interannual inflation in the month of October reached 52.1% “, among other relevant socio-labor indicators.
Source From: Ambito
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