Argentina's economy surprised analysts by achieving a 1.4% quarter-on-quarter growth and 2.1% year-on-year growth in Q4 2024. This recovery comes after a broader contraction of 1.7% for the year, much better than the anticipated 3%. Key drivers included a strong agricultural rebound and improved consumer confidence, with investments and consumption also rising significantly. Despite some impacts from austerity measures, the economy has shown surprising resilience, particularly in exports and domestic demand, setting the stage for future stability and growth under Javier Milei's administration.
Argentina's economy has shown a surprising recovery with Q4 growth of 1.4%, outperforming forecasts and indicating signs of stability after earlier downturns.
Despite challenges, Argentina's GDP contraction was only 1.7% for the year, revealing the partial success of austerity measures under Javier Milei's government.
Key sectors like agriculture have rebounded significantly, with agricultural production increasing by 31.3%, making a substantial contribution to GDP growth despite falling commodity prices.
The uptick in fixed capital investment and private consumption reflects a recovery in economic confidence, marking a return to growth after severe downturns earlier this year.
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