Argentina economy set for record 20% drop in Q2 on pandemic impact

Argentina’s economy likely contracted around 20% year-on-year in the second quarter of the year, hit by the coronavirus pandemic and a nationwide lockdown imposed in March, economists polled by Reuters estimated. That would be the worst quarter since at least the 1980s, according to official government data, and a sharper drop than any period during Argentina’s major economic crisis in 2002, when the steepest quarterly fall was 16.3%.

Source: Nasdaq