Argentina’s government presented its 2018 budget to the congress, forecasting economic growth of 3.5% and annual inflation of 15.7% next year, Foxbusiness reported. The budget also expects Argentina’s currency to depreciate to an average of 19.3 pesos to the US dollar while investment would rise 12%. This year, the exchange rate is on track to average 16.7 pesos, and investment is expected to increase 10% from 2016. President Mauricio Macri’s government expects the primary fiscal deficit to decline to 3.2% of economic output, down nearly one percentage point from this year.
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