Argentina

Moreover, the country's economic activity may be limited due to high debt levels, strict import regulations, and low foreign reserves, as the Argentine peso is ...

In addition, high government debt payments with depreciation of national currency may reduce the country’s revenue, which could have been used to support public policy and programs.” Ambari adds: “Argentina’s inflation rate rose sharply from 46.7% in 2021 to 73.3% in 2022, largely due to the government’s printing of money to finance public spending and other ongoing crises. GlobalData forecasts the three sectors to grow by 40.0%, 41.6% and 37.2%, respectively in nominal terms, in 2023. The Argentinean peso depreciated by 37.6% in 2022 and is forecast to depreciate at a faster pace of 76.4% in 2023. The household consumption expenditure growth is expected to slow down from 8.9% in 2022 to 1.2% in 2023.” Moreover, the country’s economic activity may be limited due to high debt levels, strict import regulations, and low foreign reserves, as the Argentine peso is expected to depreciate significantly.