Government Consumption in Argentina
The Argentinian economy recorded an average government consumption growth rate of 1.5% in the decade to 2022. In 2022, government consumption growth was 1.9%.
Argentina Government Consumption Chart
Note: This chart displays Government Consumption (ann. var. %) for Argentina from 2014 to 2024.
Source: Macrobond.
Argentina Government Consumption Data
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Government Consumption (ann. var. %) | -2.0 | 7.1 | 3.0 | 1.5 | -3.2 |
GDP growth slows in Q4 but remains upbeat
GDP reading: GDP growth slowed to 1.4% on a seasonally adjusted quarter on quarter basis in the fourth quarter, from 4.3% in the third quarter. A slowdown was always going to happen given the unsustainably fast Q3 growth figure, but Q4’s reading was still elevated by historical standards. Lower inflation and interest rates plus liberalizing reforms boosted the economy. On an annual basis, economic activity rebounded 2.1% in Q4, contrasting the previous period's 2.0% fall and marking the best result since Q3 2022.
Drivers: Private consumption increased 3.2% quarter on quarter in Q4, which was below the third quarter's 4.4% expansion. Public consumption growth moderated to 0.8% in Q4 (Q3: +1.7% s.a. qoq). Meanwhile, fixed investment growth accelerated to 11.3% in Q4, following the 10.3% expansion recorded in the previous quarter. On the external front, exports of goods and services growth improved to 7.7% in Q4 (Q3: +3.5% s.a. qoq). In addition, imports of goods and services growth sped up to 12.9% in Q4 (Q3: +9.7% s.a. qoq).
Panelist insight: Goldman Sachs’ Sergio Armella commented on past performance and the outlook: “A significant fiscal adjustment, tight capital, financial and FX controls, an upward adjustment of lagging regulated prices, and a spike in inflation, were all drags on growth in 2024, particularly during the first half of the year. Were it not for a much better harvest relative to 2023, the adjustment this year would have likely been deeper. That said, the economy had a strong recovery in the second half of the year, and we expect the positive growth momentum to continue in the quarters ahead.” Itaú Unibanco analysts said: “We forecast 2025 GDP growth at 4.5%, with upside risks due to a high carryover and the expected improvement of demand-side components. On the demand side, the recovery in real wages and lower borrowing rates are likely to support private consumption.”
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Argentine government consumption projections for the next ten years from a panel of 30 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable government consumption forecast available for Argentine government consumption.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Argentine government consumption projections.
Want to get access to the full dataset of Argentine government consumption forecasts? Send an email to info@focus-economics.com.
Latest Global GDP News
-
United Kingdom: GDP growth records best result since Q1 2024 in the first quarter Underlying picture less positive than headline reading: GDP growth improved to 0.7% on a seasonally adjusted quarter on quarter basis... -
Bulgaria: GDP growth edges down in the first quarter but remains robust by regional standards GDP reading: According to a preliminary reading, GDP growth waned to 3.1% year on year in the first quarter from... -
Colombia: Economy expands at the fastest pace in over two years in Q1 Faster-than-expected expansion remains below trend: The economy started the year with a spring in its step, with GDP growth accelerating... -
Kazakhstan: Economy posts best first-quarter reading in over a decade in Q1 GDP growth flies past trend: The economy rallied at the outset of 2025, expanding 5.6% in the first quarter and... -
Hong Kong: Economy records fastest growth since Q4 2023 in the first quarter GDP reading: GDP growth sped up to 3.1% year on year in the first quarter from 2.5% in the fourth... -
Portugal: Growth eludes the Portuguese economy in Q1 Portugal’s economy switches to be the Euro area’s worst performer: According to a preliminary reading, the economy lost its footing... -
Canada: Economic activity drops in February GDP reading: GDP slid 0.2% in month-on-month seasonally adjusted terms in February, which contrasted January’s 0.4% increase. February’s figure was...