The Associated Press May 22, 2012, 7:53PM ET

News Summary: Argentina's economic boom ending

THE SLOWDOWN: Analysts predict Argentina's economy will grow 2.5 percent to 3 percent this year, half the 5.1 percent projected by the government's 2012 budget and far below last year's 8.9 percent rise.

THE HORIZON: Some economists even see a recession with new currency and trade restrictions, high inflation, price controls and capital flight making it tough to fence off the global slowdown.

THE BOOM: Argentina's GDP grew 7.1 percent per year from 2003 to 2011 as President Cristina Fernandez and her late husband and predecessor, Nestor Kirchner, guided the country out of an economic abyss created by its world-record loan default and currency devaluation in 2002.

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