According to the consulting firm OJF & Asociados, in 2024, imports continued to be the main source of investment income. Amid the economic crisis inherited from Kirchnerism, a decline of 13.7% was recorded, marking the lowest level since the pandemic. On the other hand, investment in machinery and equipment showed an increase of 41.9% in January, maintaining a high pace of expansion due to the import of capital goods. The influx of machinery and equipment from abroad increased by 60.6%, while investment in durable national production equipment advanced by 17.7%.
Regarding the construction sector, after 16 consecutive months of declines, investment in the sector grew year-on-year, with an increase of 5.6%. 'Investment continues to regain ground. Looking ahead, we expect high levels of investment to be maintained, also supported by an increase in private consumption,' concluded the report. The flow of Foreign Direct Investment (FDI) reached USD 2.395 billion in the third quarter of 2024, marking a gradual recovery since the low hit in March.
Although imports remain the main source of investment income, ten projects within the Large Investment Incentives Regime (RIGI) stood out for an amount exceeding USD 11 billion, with most funds directed to the energy and mining sectors. This increase in gross investment occurs in a context of strong economic recovery, where in January the economy expanded by 6.6% year-on-year and 0.1% compared to December.
For example, in the same month, sectors such as financial intermediation, mining and quarrying, and trade were highlighted. Gross internal investment experienced a year-on-year growth of 22.2% in January, reaching a total of USD 7.529 billion monthly. Javier Milei, President of Argentina, highlighted that 'the growth we expect is mainly based on the recovery that we are already beginning to see in consumption, due to improvements in wages and credit to the private sector,' in a context of inflationary slowdown and macroeconomic stability.
