In an extensive column published in Infobae, President Javier Milei presented his vision for Argentina's economic future. He asserted that, after having avoided "the worst crisis in history," the country is now in a position to begin a sustained cycle of economic growth.
In his analysis, Milei combined historical references, theoretical foundations, and management results with a clear message: "We are on the path to make Argentina great again."
From historical poverty to modern growth
Milei began with a long-term historical perspective. He pointed out that for almost the entire existence of Homo sapiens, extreme poverty was the norm. However, starting with the Industrial Revolution and with Adam Smith's work as a turning point, there was a radical change in living conditions. According to the president, economic growth is a recent phenomenon, but it depends on essential variables such as the accumulation of physical and human capital, savings, and respect for private property.
From this perspective, he harshly criticized Keynesian and populist policies that "stimulate consumption with fiscal deficit and destroy incentives for investment." He also dismissed export-led growth as a viable model if it means "exporting savings and reducing domestic investment."
Fiscal adjustment, inflation, and investment
One of the central points of the text was the result of the fiscal adjustment undertaken since December 2023. Milei maintained that the combination of a 15% GDP cut and the zero-deficit policy not only avoided hyperinflation but also laid the foundations for future growth. "Inflation will be a thing of the past in 2026," he stated.
He also highlighted the sharp drop in country risk, which fell from 3,000 to around 600 basis points. According to his calculations, this would enable a rate of per capita growth of at least 4% for more than a decade, driven by greater private investment.
"We not only avoided the great depression that many predicted, but 10 million Argentines emerged from poverty," the president stated.
