By Aislinn Laing and Maximilian Heath
BUENOS AIRES (Reuters) – Argentine economists on Friday predicted a worsening recession and raised their inflation estimate to 44.4% from 40%, according to the median forecast in a monthly central bank poll.
The 39 analysts surveyed from April 27 to 30 saw an economic contraction of 7.0% this year, according the median forecast, versus a 4.3% estimated contraction in the poll released a month earlier.
While they revised downwards their Gross Domestic Product projections, the analysts said they expected a gradual recovery of the economy from the third quarter, characterizing the new coronavirus pandemic which has worsened Argentina’s already precarious financial position as “transitory.”
(Reporting by Aislinn Laing and Maximilian Heath; Editing by Sonya Hepinstall)
