Buenos Aires is the capital of Argentina and its largest city and port and it is located on the southern shore of the Río de la Plata, next to provincial territory on the southeastern coast of the South American continent.

The weather in Buenos Aires is oceanic temperate. The annual average temperature is 18ºC. There are no frosts in the winter and the temperatures range from 3ºC to 8ºC. In the summer, it is hot and humid and the average temperature is 28ºC.

Argentina's Economic Outlook

As a consequence of the deep social, political and economic crisis experienced in late 2001 and the consequent currency devaluation at the beginning of 2002, real Argentina's GDP declined by 10.9% in 2002.

From 2003 onwards the economy underwent a continuous and sustained economic expansion, reaching a GDP average annual compounded growth of 7%.

The IMF Economic Indicators published on April 2009 stated that the Argentine GDP reached 384,201 billion Argentine Pesos for the year 2008, which represents a 7% increase against the previous year, a slightly lower growth in comparison to past years. Projections by the IMF for 2009 forecast a real GDP decrease of 1.5% in comparison to the previous year, increasing the likelihood of hard landing if failure to address price misalignments and other distortions were to spur a faster
than expected deceleration of investment growth.

Significant success in preventing inflation to rise occurred in 2004 and 2005 with single-digit inflation. In 2006 though, Argentina experienced a sharp increase in the consumer price index reaching 10.9%. 

Even though official statistics estimate a better performance for the forthcoming years in terms of prices stability, most economists agree in a higher inflation rate experienced for 2008 and for the present year.

Please follow the link below to read the entire article in a new window (PDF format)

www.hvs.com/Jump/?f=2930.pdf&c=4206