By Magdalena Morales, James Matthews, and W Simon for Reuters.comArgentina's economy expanded by a blistering 9.2 percent last year, driven by strong consumer spending, high global prices for its grains exports and growing demand for manufactured goods in neighboring Brazil.
The center-left government of President Cristina Fernandez places a higher priority on economic growth than tackling surging consumer prices, but some economic analysts say expansive fiscal and monetary policies are stoking inflation and could undermine the sustainability of longer-term growth.
Below are facts about Argentina's economy, financial markets and politics:
ECONOMIC GROWTH
Argentina, Latin America's No. 3 economy, grew at one of the region's fastest rates in 2010, although some economists say widely questioned official data overstates growth.
With the exception of 0.9 percent growth in 2009, Argentina has posted strong annual growth since Nestor Kirchner, Fernandez's late husband and predecessor as president, took office in 2003 following the 2001-2002 economic crisis.
An agricultural powerhouse, Argentina is the world's top supplier of soyoil and soymeal, and the No. 2 exporter of corn.
Soy exports rose to nearly $20 billion last year, representing more than a quarter of total export earnings.
The auto industry has driven surging factory output in recent years and car production surged 41 percent in 2010, according to trade industry association data.
INFLATION
Double-digit inflation has become the potential Achilles' heel of the government's growth-oriented economic policies.
Official data shows consumer prices rose..Read full article
