Argentina entered a recession in Q1 2024 due to austerity measures, causing GDP to fall 2.6% QoQ and 5.1% YoY.
Argentina entered a recession in the first quarter of 2024 due to President Javier Milei's austerity measures, which included sharp cuts to pensions and wages and a halt in public infrastructure projects. GDP fell 2.6% compared to Q4 2023 and 5.1% year-over-year. Despite a decrease in inflation to 276% in May from 292% in April, Argentina faces challenges as consumption and activity decrease.
June 24, 2024
5 Articles