The World Bank (WB) predicted this Sunday (12.04.2020/XNUMX/XNUMX) a contraction of5,2 percent in Argentina's economy in 2020, as a result of the effects of the new coronavirus pandemic.
In a report Regarding the growth prospects for Latin America and the Caribbean for this year, the world organization predicted that The region's economy will fall 4,6 percent in 2020, with the exception of Guyana and the Dominican Republic.
According to World Bank projections, Argentina will be the second most affected country by the pandemic behind Mexico, which is forecast to experience a 6 percent decline.
«A coherent policy response is needed to overcome the coronavirus crisis in Latin America and the Caribbean", he pointed.
He said that the "sharp fall" that will occur "will require multiple responses in terms of public policies to support the most vulnerable, avoid a financial crisis and protect jobs."
He also estimated a recovery of the region's Gross Domestic Product (GDP) of 2,6 percent for 2021, within which Argentina could experience a 2,2 percent increase in economic activity.
«Many countries in Latin America and the Caribbean are facing this crisis with limited fiscal space."The World Bank report added, also highlighting the need for governments to "rapidly" expand social protection and assistance programmes "to help the most vulnerable."
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