Argentina growing at an annual 9%

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SOunds like Kirchner's "structural adjustments" are working.

Economic activity in Argentina expanded 8,8% last August over the same month in 2003, and 8,6% during the first eight months of the current year according to a release from the Argentina National Statistics and Census Office, INDEC.

August growth was 0,9% over last July, and the first semester of 2004 the Argentine economy expanded at an annualized 9% compared to the same period in 2003.

Argentina’s GDP last year expanded 8,8% the first inter-annual positive performance since 1998 when the several years long recession started.

The Argentine 2004 budget was based on an expansion estimate of 4%, but the federal government now believes growth will be above 7% and the Central Bank in the range of 8%. The 2005 budget has also being estimated on a 4% GDP growth.

MercoPress