President Javier Milei defended his economic program during a presentation before investors and bankers in New York and stated that if he achieves reelection for a second term, 2028 will be the best economic year in the history of Argentina.
In a historic hall located a few blocks from Central Park, the president assured bankers, investors, and lobbyists that a potential second government will mark a turning point for the Argentine economy.
“All investors and economic actors in the free world know that if our government is reelected in 2027, 2028 will be the best economic year in Argentine history, not only in financial terms but also in the real economy”, he stated.
President Javier Milei
Milei spoke for twenty minutes at the Economics Club, a venue in Manhattan where figures such as John Kennedy, Winston Churchill, Mikhail Gorbachev, and Alan Greenspan have previously delivered speeches.
At the main table during lunch were the Minister of Economy, Luis "Toto" Caputo; the Chancellor Pablo Quirno; the Argentine ambassador to the United States, Alec Oxenford; and the U.S. ambassador to Argentina, Peter Lamelas.
Milei highlighted investments and growth
During his presentation, the President stated that investments in strategic sectors will continue to accelerate and specifically mentioned Vaca Muerta, mining, and agro-industry.
“Investments in sectors are already moving at great speed, such as Vaca Muerta, mining, and agro-industry, will accelerate even more, and the sectors of the future that have not yet arrived in the country will come in force”, he affirmed.
According to Milei, this process will have a direct impact on workers' incomes and will help consolidate support for the economic model change.
President Javier Milei
“This will be clearly reflected in salaries and will solidify long-term support for the radical change of the economic model that we proposed to the population. This is not a random event. It is the natural continuation of the course we have adhered to and all the changes our administration made during our first term”, he stated.
The president also highlighted the evolution of economic activity. “The country is growing at a dizzying pace. We have had twenty-seven months of sustained growth, and today the country is growing at a rate that places a historic economic peak in our country”, he affirmed.
In this regard, he pointed out that thirteen of the fifteen productive sectors that make up the main monthly activity indicator are in growth.
President Javier Milei
Inflation, country risk, and debt
Milei also focused on some of the main financial and fiscal indicators. “The market recognized our work. Country risk has dropped from three thousand basis points to around five hundred. Inflation has decreased from two hundred eleven percent annually to around thirty”, he stated.
He also stated that the net consolidated public debt has decreased from over 100% of GDP before his assumption to below 40%.
The President also assured that GDP per capita has already surpassed the maximum recorded before the period he defined as the “lost decade between 2011 and 2023” and emphasized that the Argentine economy has experienced three consecutive years of growth.
Finally, he defended the transformation process and stated that the closure of unproductive companies previously protected by the poverty-inducing protectionist model is part of a change of era.
“Today Argentina is already reinserting itself as a player of international relevance in global value chains as a supplier of energy, food, and critical minerals”, he concluded.
