The President of Argentina, Javier Milei, reported that annual wholesale inflation decreased from 17,000% in December 2023 to 10% in December 2024. He highlighted the reduction of the exchange rate gap between the official dollar and the parallel one, as well as the recovery of salaries that energize the economic flow and explain the country's economic growth in the second half of the year.
Milei affirmed his commitment to simplifying national taxes by reducing them to 5 or 6, after eliminating the inflation tax. Additionally, he mentioned the upcoming elimination of the currency controls, subject to the normalization of the Central Bank's stock imbalances, as part of the measures being developed.
During his stay in Switzerland, after participating in the World Economic Forum in Davos, the president met with business executives and revealed his intention to close a free trade agreement with the United States. Milei highlighted Argentina's export potential in minerals such as lithium, silver, gold, copper, and uranium, currently underutilized due to ideological restrictions from the past.
The president mentioned the economic achievements of the past year, including achieving a sustained fiscal surplus without defaulting on debt for the first time in 123 years, as well as the reduction of the exchange rate gap and country risk. He also emphasized the elimination of regulations and the approval of incentives for large investments, attracting more than 12 billion dollars in investments.
Milei highlighted that the management managed to navigate social crisis despite facing a brief recession in 2024, closing the year with a level of activity similar to the previous one. He pointed out a decrease in poverty and projected economic growth of 5% for 2025. He emphasized the recovery of salaries and pensions, as well as the restructuring of companies' stocks after having liquidated overstocked inventories at the beginning of the year.
