Analysis by Region - Latin America - Argentina
We have upgraded our 2022 GDP growth forecast by 0.2ppts to 2.4% due to a better-than-expected 1.2% q/q estimated expansion in Q1, led by an output rebound in February and booming exports. Yet, as the central bank (BCRA) is currently on a tightening cycle, we maintain our view that household consumption will be constrained this year, which will cause growth to slow. We expect a moderate 1.1% expansion in 2023.
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