While bringing its GDP estimate down to consensus levels, the government also cited weakening uncertainty over US-Mexico ties and noted a better-than-expected budget surplus.
The unemployment rate and economic activity indicator signal that the risks to the country's recovery are rising.
An MOU to split up and develop the Aguada Pichana license in the Neuquén basin involves state oil company YPF, Pan American Energy, Total and Wintershall.
The Australian firm says it remains interested in acquiring stakes in the Baúna and Tartaruga Verde oilfields despite a court decision forcing Brazilian state-run company Petrobras to restart the bidding process from scratch.
Loan package will finance drilling at the Chachahuén license in Mendoza province, and at acreage targeting the Vaca Muerta shale.