Macroeconomic Forecast Argentina

BMI View: Argentina's current account swung into a deficit of US$116mn in Q311, posing some downside risk to our year-end estimate of a current account surplus of US$3.0bn or 0.8% of GDP. For 2012, we are maintaining our forecast of a current account surplus of 0.8% of GDP, as the government's policies aimed at boosting the trade balance and curbing capital flight are likely to prevent a sharper deterioration of the country's external position.

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