Argentina is going to be the country that will grow the most in the next 30 years. "I hope all of you are investing for that to happen," said Caputo last Wednesday during his presentation at the IDEA Colloquium.
Overall economic activity fell by 3.8% in August, the National Institute of Statistics and Censuses (Indec) reported today. However, the Monthly Economic Activity Estimator (EMAE) advanced by 0.2% between July and August, reducing the annual loss to 3.1%, the agency reported.
As has been the case in previous months, activities related to foreign trade registered the highest increases, while those associated with the domestic market experienced significant declines. In the first group, there are increases of 17.1% in the fishing sector, 6% in Mining and Quarrying due to activity in lithium mines and Vaca Muerta, 4.5% in Agriculture and Livestock, a "technical rebound" when comparing production with the drought of 2023, and increases of 1.6% in the distribution of electricity, gas, and water, and 0.6% in Education.
In contrast, declines were recorded of 18% in Construction, 7.9% in Wholesale and Retail Trade; 6.7% in Industry; 2.6% in transportation and communications; and 4.1% in Hotels and restaurants, among others.
The government estimated that this year Gross Domestic Product (GDP) will fall by 3.5% and will rise by 5% next year. Economy Minister Luis Caputo called on businesspeople "to join this change" driven by the Government "because they are the protagonists" and stated that President Javier Milei's management aims "to return the money that they have been stealing from them for decades."
"We come to do teamwork with businesspeople and with the people."
