Austerity plan pushes Argentina into recession in 1Q

Gross domestic product fell 2.6% compared to the fourth quarter of 2023. — Reuters

BUENOS AIRES: Argentina entered a recession in the first quarter (1Q) of the year as President Javier Milei’s brutal spending cuts sent consumption and activity plummeting.

Gross domestic product (GDP) fell 2.6% compared to the fourth quarter of 2023, according to official government data.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
ArgentinaRecession , GDP , PublicSpendingCuts , Inflation , Unemployment , RetailSales , InvestmentDecline

Next In Business News
Bank Islam targets 50% rise in BIMB biz users payment to voice feature
CPO output down 5.3%, palm oil exports fall 28.13% in Nov -�MPOB
Bursa Malaysia slips at midday amid subdued regional sentiment
EcoWorld achieves record sales and profit in FY25
LAC Med shares up on market debut
Steel unit price index falls 0.1 to 3.2 % in Nov - DoSM
SumiSaujana explores partnership with China polyurethane product manufacturer
Carsome's record retail performance drives up 3Q earnings
DKSH shares soar 68 sen on privatisation proposal
China's consumer inflation quickens to 21-month high, producer deflation persists

Trending in Business

Others Also Read

Load more

Copyright © 1995- Star Media Group Berhad [197101000523 (10894-D)]

Best viewed on Chrome browsers.