Argentina's GDP up by 11.2%

Argentina’s GDP up by 11.2%

In the first quarter, Argentina's GDP (Gross Domestic Product) grew by 11.2% compared to the same period of last year, according to the data released by national statistics institute INDEC. The growth in GDP is attributed to the strong domestic sales. Expectations for a year-on-year increase were 10.4%. Central bank expects Argentina's GDP to grow by 8.8% this year. However, the growth rate in South America's second biggest economy is threatened by energy shortage and the government's failure to restructure its defaulted bonds.