President Cristina Fernández de Kirchner announced the unemployment rate hit 7.9 percent in the second quarter of the year, fell 0.9 percent compared to the same period last year.

According to the official estimates, the unemployment rate dropped 0.4 percentage points against the previous quarter.

During her addressing at a rally following the loan agreement signing with the Andean Development Corporation (CAF, for its acronym in Spanish), Fernández de Kirchner also said that the local industrial output climbed 9.8 percent in June year-on.