Juan Manuel Manías
•M.A. in International Economics Relations (UBA, Argentina)
•B.A. in Economics (UBA, Argentina, Magna Cum Laude Honours)
•Previous work experience includes Banco Francés Financial Area since 2000.
•Joined Economic Research Department in 2009
The 2018 exchange rate crisis drove the economy into a strong recession that ended the mortgage spring that had led the previous year's growth. There are still no clear signs of a solid recovery in the sector, although the outlook for 2020 is positive. There are opportunities for improvement in terms of housing.
We maintain our GDP forecast fall of 1.2% in 2019, which will grow quarterly form 2Q-19 due to the recovery of agricultural campaign and the reduction of FX market tensions. By 2020, the economy will have processed the tensions caused by the electoral uncertainty and will grow by 2.5% as private domestic demand recovers.