Argentina's economy remains in recession one year into center-right President Mauricio Macri's term, as inflation eats into consumers' purchasing power and a promised flurry of foreign investments has failed to materialize. Earlier this week, Macri sacked finance minister Alfonso Prat-Gay and split the ministry. Economists see Argentina's economy contracting 2.3 percent in 2016 before rebounding to grow 3 percent next year, driven largely by public works spending.
Argentina's economy remains in recession one year into center-right President Mauricio Macri's term, as inflation eats into consumers' purchasing power and a promised flurry of foreign investments has failed to materialize. Earlier this week, Macri sacked finance minister Alfonso Prat-Gay and split the ministry. Economists see Argentina's economy contracting 2.3 percent in 2016 before rebounding to grow 3 percent next year, driven largely by public works spending.