Saturday, July 25th 2026 - 09:22 UTC
Despite the revision, the bank considered that the economy is “expanding at a moderate pace” and maintained a favorable assessment of several aspects of the economic program
Goldman Sachs lowered its growth forecast for Argentina's economy in 2026 from 3% to 2.7% and anticipated a possible contraction in activity during the second quarter, according to a report by the bank. The institution also said economic performance will increasingly be assessed against the presidential elections of October 2027.
The cut followed April and May indicators that came in below expectations. In the first quarter, gross domestic product had grown 0.7% on a seasonally adjusted basis, an improvement the report attributed to the statistical carryover from late 2025 and to March's performance, which offset weaker figures for January and February.
Despite the revision, the bank considered that the economy is “expanding at a moderate pace” and maintained a favorable assessment of several aspects of the economic program. It highlighted the commitment to fiscal balance, reserve accumulation, and an improving trade position: by its calculations, the central bank has bought close to $13 billion so far this year and net reserves have risen by around $6.6 billion. The 12-month trade surplus reached the equivalent of 3.2% of output, with the energy sector accounting for nearly half of the result.
