Argentina INDEC estimates economy contracted 10% in 2020

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(Buenos Aires Times)

Argentina’s economy shrank by 10 percent in 2020 due to the coronavirus pandemic, according to initial estimates published by the INDEC national statistics bureau.

Data from the bureau’s Monthly Estimator of Economic Activity (EMAE), published Wednesday, revealed the economy fell by 2.2 percent in December, compared to the same month in 2019, although it was up by 0.9 percent on November.

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