Argentina President Says 2011 GDP To Grow 7.5% To 8%

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articlenopicBy  Shane Romig for Wsj.com

Argentina's economy is on track for a robust expansion again this year as loose monetary policy and heavy government spending continue to bolster strong growth despite fears over runaway inflation.

Argentina's gross domestic product is likely to expand by 7.5% to 8% this year, President Cristina Fernandez said Wednesday, sharply higher than previous government estimates of over 6.5%.

But the economy has surged so far this year and has shown little signs of losing the momentum it built up last year.

Fernandez said the economy grew at a 9.9% rate on the year in May. GDP surged 9.2% in 2010.

The national statistics agency Indec is set to release first-quarter GDP data Friday, with analysts polled by Dow Jones Newswires expecting the government to report...Read full article

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