Argentine Congress OKs 2014 budget, GDP growth seen at 6.2 pct
BUENOS AIRES Oct 10 (Reuters) - Argentina's Senate has given final legislative approval to the government's 2014 spending plan, based on projected economic growth of 6.2 percent next year, well above the threshold for payment on the country's growth-linked debt.
The 2014 budget bill passed the upper chamber of Congress late Wednesday night by a 40 to 27 vote.
The legislature's lower Chamber of Deputies already approved the measure. The bill becomes law once it is published in the government's official gazette.
For 2013, gross domestic product in the South American grains exporting country is expected by the government to expand 5.1 percent.
That follows GDP growth of 1.9 percent in 2012 and 8.9 percent in 2011, according to official figures.
Last year growth was hampered by weak global demand, a drought-hit grain harvest, high inflation and the impact of currency controls on investment.
Argentina's forecast 2013 growth is set to beat the regional average. The economies of Latin America and the Caribbean are seen expanding 3 percent this year, as a gloomier global economy restrains exports and domestic demand, a United Nations body said in July.
But many analysts are skeptical about the accuracy of Argentina's official economic data.