The presidential spokesperson, Adrián Ravier, assured this Friday that the Argentine economy has entered a cycle of sustained expansion backed by the fiscal, monetary, and exchange rate balance achieved by the government of Javier Milei.
During a press conference at the Casa Rosada, the official stated that the growth recorded since the first half of 2024 is not a transitory phenomenon but the result of a new macroeconomic framework based on economic openness, the reduction of regulations, and fiscal stability.
“After half a century of a stagnant economy, Argentina is beginning a cycle of expansion based on macroeconomic balances,”
expressed Ravier.
The Government projects three consecutive years of growth
Ravier maintained that the Monthly Economic Activity Estimator (EMAE) shows growth close to 10 percentage points of GDP since the first half of 2024, following the exchange rate correction made at the beginning of the administration.
Additionally, he highlighted that the recovery is supported by monetary, fiscal, and exchange rate balance, economic openness, and the reduction of bureaucracy through deregulations.
“There is a strength that explains this expansion as something that will continue,”
the spokesperson affirmed.
In this regard, he noted that for the first time in a long time, Argentina could register three consecutive years of economic activity expansion.
Historic record in hydrocarbon production
The official emphasized that energy, mining, and agro-industry are three of the main engines of growth for the Argentine economy.
In particular, he highlighted that hydrocarbon production reached 903,700 barrels per day in May, representing a year-on-year increase of 19.6% and a new historic record.
