According to his statement, "The real economy will ultimately suffer in the medium and long term." Despite this, the Government sees clear signs of economic recovery. President Javier Milei mentioned that the recession has ended and now a period of growth is on the horizon. During a visit to the offices of Ualá, an Argentine fintech that secured a new investment round of $300 million, Milei expressed that Argentina is entering its best moment in the last 100 years.
On the other hand, economist Diego Giacomini, a former partner of the leader of La Libertad Avanza, dismissed the idea that the country is experiencing economic recovery. In a report published by his consultancy Economía & Ética, he noted that while there is unstable recovery centered on a few sectors, many sectors are still not experiencing such growth, leading to a disconnect between macro and microeconomic recovery.
While Milei declared that all that remains are good news and that the economy will be "soaring in the clouds" in the near future, Giacomini emphasized that the level of activity continued to worsen throughout the year. He stated that there is no significant and robust recovery and that investment levels under the current administration are the worst in recent years.
Giacomini pointed out that cumulatively for the year, the level of activity has worsened and there are no signs of solid recovery. He also projected that while the Government might present positive activity level numbers in 2025, these will be comparative and will not necessarily reflect sustained growth. For him, a true investment process will be vital to achieve sustainable growth, as a boost in consumption could be concentrated in a few hands.
