The financial entity spoke regarding the importance of “macroeconomic stability” for the country. The projections were reduced by 2% due to the lack of investments.
He world Bankthe multinational organization specializing in finance and assistance, estimated that the Argentine economy will not grow this year and considered that the country needs “macroeconomic stability” to increase the flow of investment.
The financial institution reduced its growth projection for Argentina from 2% to 0% for 2023 and predicted a 2% advance by 2024. The World Bank’s chief economist for Latin America, William Maloneyemphasized that “macro stability is a prerequisite for an increase in the flow of capital from abroad and also for the economic activity of entrepreneurs.”
“We do not have a forecast, we support the program with the FMI and let us hope that macroeconomic stability is guaranteed. There are several loans for this year as in previous times and we are working on social aspects,” said the official. In addition, he stated that the drought reflects “the need to mitigate high temperatureswhich have an effect on the growth of countries like Argentina”.
At the regional level, Maloney indicated that Latin America It is the region that has grown the least since 2019, and estimated growth of 1.4% this year and 2.4% in 2024 and 2025. He also assured that the increase in inflation, food prices and energy “produced a significant increase in poverty, which we hope will be reduced in 2024”.
The economist considered that for drive growth that the region needs, “countries must preserve their hard-earned resilience and take advantage of the unique opportunities offered by global economic trends towards business relocation and green industry.”
For the World Bank, only Chile will have a recession this year; Argentina will not grow, but the GDP of other nations will advance, such as Brazil (0,8%), Mexico (1,5%), Uruguay (1,8%), Paraguay (4,8%), Bolivia (2,7%) y Ecuador (3%).
