The Argentine economy grew by 5% year-on-year in May and has accumulated a 6.1% increase.

According to the data published by the National Institute of Statistics and Censuses (INDEC), the Monthly Economic Activity Estimator (EMAE) recorded in May a 5% growth compared to the same month of the previous year, consolidating a positive trend in the country's productive performance.

This growth occurs within the framework of a cumulative improvement of 6.1% between January and May, which represents a solid advance so far this year, thanks to the successful economic plan of Javier Milei's government.

The report also highlights that 13 of the sectors surveyed by INDEC showed year-on-year increases, reflecting a widespread recovery of the economy after the severe economic crisis inherited from Kirchnerism. 

Among the sectors with the best performance are financial intermediation, which grew by 25.8% year-on-year, and fishing, with an increase of 12.2%. Meanwhile, the wholesale, retail, and repair trade sector showed a 10% increase, with the latter having the greatest positive impact on the overall EMAE variation.

Another key sector that showed signs of dynamism is the manufacturing industry, with a 5% year-on-year expansion, consolidating its role as a productive engine. These figures indicate an increasingly visible reactivation, especially in areas related to production, investment, and trade.

Milei government's projections

Additionally, Javier Milei's government projects a continuation of this positive trend. The preliminary 2026 Budget estimates a Gross Domestic Product (GDP) growth of 5.5% for 2025, a figure that even exceeds the expectations of the Central Bank's Market Expectations Survey (REM).

Within these projections, the expected advances in the agricultural (2.1%), industrial (5.3%), and commercial (7.6%) sectors stand out, accompanied by an improvement in both goods production and services.

On the demand side, the forecasts are also encouraging: private consumption is expected to grow by 7.2%, public consumption by 5%, and investment to rebound by a remarkable 22.7%. Exports and imports would also show signs of dynamism, in line with the general economic upturn.

Although the seasonally adjusted data for May showed a slight decrease of 0.1% compared to April, this comes after an April that had a revised increase of 1.8%. In the context of an economy that is undergoing a phase of normalization and consolidation, this small monthly setback doesn't overshadow the overall outlook, which is clearly positive.

This way, the Argentine economy is heading into 2025 with solid indicators and an optimistic projection, in which various sectors show dynamism and confidence in the continuity of the recovery achieved by the libertarian administration.