Between 2019 and 2020, Argentina’s “GDP Growth” was -11.78%.
Has anyone been to Calle Florida or taken a walk through Microcentro lately or down other major streets like Córdoba or Cabildo?
The average income today in Argentina is now about US$450 a month. US$5400 a year. For comparison, the “cut off” to still be considered an “upper middle income” country is US$4046 per year.
If the GDP that remains in 2021 is essentially just soy exports and if international commodity prices are like 25% higher this year than last, then of course you’re going to see “economic growth”.
What you’re not going to see is new investment, jobs and reduction in poverty, or getting back to a level we saw in an already sh!tty year like 2019.