The Government announces in New York that Argentina will grow almost 7% this year, and the fiscal deficit will be below 3% instead of 4.5% of GDP. They will obtain the latter result due to an improvement in tax collection of more than 10 points above inflation. On the other hand, reserves will increase this year by almost $6 billion, and there will be no exchange rate changes.
In the last few days, rainfall resulted in relief for the little more than 1.2 million hectares of soybeans planted in the core zone that were in poor to fair condition. Expectations halted production cuts to be around 44 million tons. If the current conditions are maintained, the estimated foreign currency income from the total harvest would be between $26 and $28 billion.
Data from the Monthly Economic Activity Estimator (EMAE) anticipate that the indicator that takes only some components of the GDP showed a 10% drop for the whole of last year.
The production of small and medium-sized industries grew 0.4% year-on-year in February, thus accumulating three consecutive months with positive data.
Aerolíneas Argentinas will record a deficit of more than 44 billion pesos ($482 mn) this year, according to the Action Plan and Budget for the airline's fiscal year 2021, which the Government approved today.