Not long ago, The Economist decided to stop publishing the manipulated Argentina inflation statistics, and then we’ve reported about the also manipulated poverty numbers, and so far no one has raised any suspicion about economic activity and GDP in Argentina… though some evidence may just be here.
The chief economist of MB Associados, SergioVale, did some research (also via Mansueto Almeida and Drunkeynesian) about the subject and discussed the issue with Argentinian consultancy firm Ecolatina.
Ecolatina closely follows all of Argentina’s economic statistics and calculated the real GDP growth based on 1993 prices (see Ecolatina’s table below), and thus was able to identify that, in fact, the Argentine government manipulates its GDP numbers since 2007. In other words, the real GDP growth in Argentina is (surprise surprise) much lower than the official numbers.
According to the table, official GDP growth in Argentina from 2007 to 2011 was 39% (PBI precios Cte, 1993, INDEC). But for the more precise data estimated by Ecolatina (PBI precios Cte.1993, Ecolatina), the real GDP growth during this period was 25.35%, far less than the official real GDP growth.