Argentina Can Buck World Trend Under Macri, Prat-Gay Says

Source: Bloomberg
By: Katia Porzecanski

Argentina is in a position to both return to growth this year and narrow the widest deficit in more than three decades as President Mauricio Macri reinserts the nation back into the global economy, his Finance Minister Alfonso Prat-Gay said.

After lifting currency controls and trade barriers within the first month of taking office Dec. 10, Argentina’s economy may expand as much as 3 percent in the second half of 2016 from a year earlier with an expected growth rate of between 0.5 percent and 1 percent for the full year. The government will cut spending at a pace that will not imperil its ability to govern, Prat-Gay said in an interview in Davos where he is attending the World Economic Forum.


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