Milei gave an interview and reaffirmed the economic direction: “I have confidence in the Argentinians”

President Javier Milei gave a television interview this Sunday on LN+, where he analyzed the economic situation of the country, reviewed each economic indicator one by one, and rejected the media operations that claim Argentina is in recession and defended the growth prospects of the economic program.

During a conversation with Luis Majul on La Cornisa, the president referred to the latest activity indicators and questioned interpretations that anticipate the economy could accumulate two consecutive quarters of contraction. “What we have is a deceleration,” Milei stated. In that sense, he explained the weakness of the functioning of the seasonally adjusted indicators in a context of profound changes in the Argentine economy.

“The indicators are showing anything,” the President asserted, explaining that the seasonally adjusted series are developed based on the historical behavior of the economy and can present distortions when numerous structural changes occur. According to Milei, for this reason, the Government pays special attention to the trend-cycle component of economic indicators. “The economy is undergoing many structural changes,” he noted.

Milei rejected the more pessimistic interpretations about the economy and maintained that the current process responds to a reallocation of resources within the Argentine productive structure. The President also stated that the country is at high levels of activity on various fronts and projected that his administration will achieve four consecutive years of economic growth: “We are at maximum levels of consumption, exports, and GDP."

Another point addressed by Milei was the evolution of consumption, and he assured that the traditional measurements do not accurately reflect the changes in the purchasing habits of Argentines. “Consumption is at historic highs; what is changing is the mode of consumption,” he stated. In that sense, he highlighted the strong growth of purchases made through virtual channels as one of the factors that modified the composition of consumption compared to traditional stores.

The President linked this transformation to the changes the economy is undergoing and also defended the decision to move towards greater trade openness, questioning the protectionist scheme sustained for decades and the costs that, he argued, were passed on to consumers.