During the second quarter, GDP would have grown at a higher rate than during the first quarter, mainly due to the recovery of the primary sectors.
The regularization of climatic conditions has boosted the growth of fishing and traditional agriculture. On the one hand, as of June 26, the first anchovy fishing season registered a progress of 98%, which would have allowed the sector to grow around 180% in Q2, compared to the same quarter of 2023. On the other hand, The production of the main traditional agricultural crops has been growing at a high rate due to the greater availability of water.
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Head of Research
During the 2Q2024, economic growth was driven by the rebound of primary sectors, such as traditional agriculture and fishing, and by higher public spending, supported by an estimated increase of 11% in public wages and 16% in public investment, adjusting for inflation.
During the month of August, attention was focused on the dynamics within Congress. In view of the election of the Board of Directors and the recomposition of the ordinary commissions, numerous movements were recorded in the benches.
Although the implicit alliance between the Executive and the Legislative remains in force, in recent months we have seen a progressive weakening of the Executive.
