Milei Effect: Argentine GDP grew by 2% year-on-year in the second quarter of the year

Hotels and restaurants: experienced an increase of 1.6%.

Transport, storage, and communications: recorded an increase of 1.6%.

Real estate, business, and rental activities: showed an increase of 0.7%.

Construction: reversed trends to position itself in positive territory with a 0.2%.

The success achieved during the first six months lays the foundations for a lasting cycle of prosperity. Following the presentation of the 2027 Budget project, the economic team led by Javier Milei projects that the GDP will close the year 2026 with a consolidated average growth of 3%.

According to the official premises for the remainder of 2026, private consumption will maintain an upward path of 3.1%, while exports will rise by 7.7%.

For 2027, a key year for the institutional consolidation of the freedom model, the Executive Power's estimates foresee a true economic takeoff with an acceleration of GDP up to 4%. This expansion will be supported by a strong shock of private investment that will rebound by 9.2%, accompanied by a new dynamism in exports of 8.5%, an advance in private consumption of 3.4%, modest growth in public consumption of 0.6%, and an increase in imports of productive inputs of 8.2%.

Within the framework of the profound process of structural transformation and liberation of productive forces driven by the Government of Javier Milei, the economy accumulated a growth of 2.2% in the first half of the year compared to the same period in 2025. This compelling result validates the strength of the economic freedom program and confirms that the recovery is progressing steadily. At the level of aggregate activity, the Gross Domestic Product (GDP) recorded a significant year-on-year increase of 2% in the second quarter of 2026 compared to the same period of the previous year, according to official data presented by the National Institute of Statistics and Censuses (INDEC).

In parallel, the measurement of the trend-cycle indicator showed a quarterly acceleration of 0.8% in the second quarter. By exactly replicating the expansive behavior recorded during the first quarter, the structural trajectory of the Argentine economy achieved a new historical maximum. The Minister of Economy, Luis Caputo, celebrated this achievement of the management through his official channels, stating: “The trend-cycle indicator recorded a quarterly increase of 0.8% in the second quarter, similar to that of the first quarter, and reached a new historical maximum”.

When analyzing the components of aggregate demand, the pro-market model shows its first and powerful fruits in foreign trade and genuine consumption.

Exports of goods and services emerged as the great driver of national wealth. In the year-on-year comparison of the second quarter, shipments abroad recorded an impressive jump of 13.7%. Likewise, when evaluating the seasonally adjusted series against the first quarter of 2026, external sales registered an expansion of 2.5%.

For its part, private consumption reaffirmed the resilience of families and confidence in macroeconomic stability by remaining in positive territory with a year-on-year advance of 0.4%.

The reactivation of supply was not an isolated event, but a phenomenon spread throughout the Argentine productive framework. The head of the economic portfolio, Luis Caputo, highlighted the broad consensus of recovery among the various sectors: “Of the 16 sectors of activity into which the GDP measurement is broken down, 13 recorded year-on-year growth in the quarter”.

Among the industries that led this vigorous year-on-year rebound are:

Fishing: recorded a true explosion in production with an increase of 44.7%.

Mining and quarrying: driven by energy and libertarian mining, expanded by 16.4%.