Coronavirus (covid-19) posts huge fall on Peruvian and Argentine economies

Coronavirus (covid-19) posts huge fall on Peruvian and Argentine economies

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Coronavirus Economics Fall

The novel Coronavirus (covid-19) has posted huge fall on Peruvian and  Argentine economies. The Peru's year-on-year gross domestic product (GDP) fell by 30 percent in the second quarter of 2020 due to coronavirus containment measures, the government said.

In Peru, mandatory confinement was in place throughout the whole of the second quarter and was only lifted in the majority of the country on July 1.

The worst-hit sectors of the economy were mining, down by 20.9 percent; processing, down by 44.5 percent; and services, down by 28.3 percent, the state statistics and information institute said.

In Argentina, official data showed the country's economy contracted by almost 13 percent in the first quarter of 2020 compared to the same period last year.

The year-on-year fall in GDP for June was 12.3 percent, although that was an improvement on April and May.

                                                                                           
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