Argentine economy 'to shrink by 5%'

ARGENTINA - Argentina's economy is set to contract sharply this year, despite the devaluation of the peso. The country has been in recession for four years now.

As demonstrators continue to fill the streets of the capital Buenos Aires and other cities, the deputy economy minister, Jorge Todesca, admitted that the economy could shrink by as much as 5% in 2002.

"When we came into government at first we forecast a 2.6% fall in gross domestic product," he told a radio programme.

"We've changed

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