Hours before the legal deadline, the Economy Ministry presented the 2024 budget bill, the road map in which the government establishes the main economic variables for this and the following year. In Argentina, it is not unusual for the budget bill treatment to happen after presidential elections. Year-on-year inflation for 2024 is forecast to be 70%, while average inflation will be around 90%. Per the new document, GDP is expected to drop by 2.5% this year and grow by 2.7% in 2024. According to the budget, the exchange rate by the end of 2024 will be AR$600 to the US dollar.
Source: Bueno Aires Herald September 16, 2023 15:20 UTC