11:24 - 18.12.2024

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December 18, Fineko/abc.az. Argentina's economy grew for the first time since the end of 2023. Following July-September, country's GDP grew by 3.9% compared to the previous quarter. Argentina's GDP declined by 2.1% this quarter compared to last year, which is the sixth quarter in which the economy shrinks year on year.

ABC.AZ informs that however, the quarter's results were noticeably better than forecasts. Analysts surveyed by Bloomberg expected the economy to grow by 3.4% in the second quarter, with an annual decline of 2.6%.

As you know, Javier Miley was elected president of the country in November last year. He promised voters to rid everyone of budget deficits, poverty and hyperinflation. At the same time, according to Miley, the situation can only be corrected by shock measures, including significant cuts in government employees and the freezing of government projects. This has led to a serious drop in the standard of living of the population in the country and the loss of hundreds of thousands of jobs.