The economy fell 2.3% in 2016, though it grew 0.5% in the 4 th quarter.
During 2016, the Gross Domestic product (GDP) went backwards 2.3% due to lower industrial production, retraction and fall in consumption. The fourth quarter closed with a 2.1% reduction regarding an equal period of 2015 according to what the Instituto Nacional de Estadisticas y Censos (INDEC) informed.
- The construction of the new road Mendoza-San Juan is starting in August.
- El Sosneado Wind Farm is receiving a US $ 70 million investment. Emesa and
TTX Development are associated in this project which will provide energy to more than 100,000 families.
- The BCRA keeps the interest rates and accepts it is starting to restrict liquidity.
- Scandal in Brazil: Argentina will intensify the controls of meat products imported
from that market.