INSUBCONTINENT EXCLUSIVE:
The National Institute of Statistics and Census (INDEC) reported this 1.3% reduction from the previous quarter
The general government owes 53.2% of the total debt, amounting to $150.41 billion
Non-financial corporations, households, and non-profit institutions account for 35.4%, totaling $99.99 billion.The Central Bank of Argentina
This figure increased by 4.1% from the previous quarter
US dollars make up 68.8% of the debt, followed by Special Drawing Rights at 17.4%
This marks the fifth consecutive month of decline
The cumulative economic contraction from January to October reached 2.7% compared to the same period in 2023.Ten major economic sectors
experienced downturns in October
The fishing industry suffered the most, plummeting by 49.9%.Construction followed with a 14.5% decrease, largely due to public works
ChallengesHowever, six sectors showed growth
Mining and quarrying led with a 7.4% increase
Agriculture, livestock, hunting, and forestry grew by 2.3%
Financial intermediation saw a modest 1.8% rise.Despite ongoing economic challenges, the government claims the recession has ended
This optimism stems from a 3.9% GDP growth in the third quarter compared to the second quarter
reduction with economic recovery
