Can Argentina’s Oil Industry Help Stave Off An Economic Crisis? ...Middle East

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Can Argentina’s Oil Industry Help Stave Off An Economic Crisis?
source : OILPRICE ( Middle East ) () 41
Argentina, which with a 2022 gross domestic product of $632 million is Latin America’s third-largest economy, is once again in the midst of a deep economic crisis that emerged during the 2020 COVID-19 pandemic. The severity of the crisis is illustrated by the country defaulting on its sovereign debt in May 2020 for the ninth time in its history. Despite GDP growing by a notable 10% during 2021 and then 5% in 2022, rampant inflation, which recently topped 104%, weak government finances, and a soaring current account deficit are all weighing…

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