Argentina Construction Industry Report 2024: Output to Register a Sharp Decline of 18.2% this Year Before a Projected AAGR of 4.6% During 2026-2028 [Yahoo! Finance]
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Source: Yahoo! Finance
According to the National Institute of Statistics and Census of Argentina (INDEC), the total area authorized for building permits by 176 municipalities fell by 15.8% year on year (YoY) in the first four months of 2024, preceded by an annual decline of 15.2% in 2023. President Javier Milei's austerity drive has abetted the devaluation of Argentina's peso - 50% against the US dollar as of December 2023 - and public spending cuts on several infrastructure and education projects similarly contribute to waning output. In April 2024, universities nation-wide declared a financial emergency, objecting to the decision to keep the funding for the educational sector in 2024 unchanged from the previous year, despite a nearly 290% inflation rate in March 2024. Over the remainder of the forecast period, however, the construction industry is expected to recover and register an average annual growth rate of 4.6% from 2026 to 2028, supported by investments in renewable energy, oil and gas product
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