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.

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