Argentina’s economy is growing at a rate of 11.9 percent in the third quarter | Business and Economic Affairs

South America has seen its economy recover faster than expected after a major impact on COVID-19.

Argentina’s economy grew by 11.9 percent year-on-year in the third quarter of 2021, the country’s statistical agency said Thursday, in line with a sharp increase of 10.2 percent over the same period last year.

The South American seed producer has seen its economy recover faster than expected in the wake of the outbreak of the COVID-19 epidemic, with the government improving its 2020 growth rate by about 10 percent.

A Reuters News Agency survey of 17 local and foreign researchers predicted a 12 percent increase over the July-September quarter.

“In the third phase, better recovery was evident,” said Isaías Marini, an economist at Econviews, who predicted a 12 percent increase and expected recovery by the end of the year.

“Payment changes, recent reductions [of restrictions] and the resumption of debt shows shows that even last year is even 10 percent, “says Marini.

Pablo Besmedrisnik, an economist at the Invenómica affiliate company, said, “One of the most influential trends in the world today comes from oil and gas production. The agricultural sector also shows good performance and good shape.

“These two divisions,” Besmedrisnik said, “are crucial for Argentina to seek foreign exchange in the short and medium term.”

South America lifted its gross domestic product by 17.9 percent in the second quarter of 2021.