23/06/2026 22:10 - Economia
Argentina's economy grew by 0.7% in the first quarter of 2026, according to official data released on June 23, 2026. This figure marks a turning point in the nation's economic recovery, primarily driven by the energy sector, manufacturing, and services.
This growth occurs in a favorable context: the country risk dropped to 425 basis points, its lowest level since April 2018. This indicator reflects growing confidence from international investors. Simultaneously, the Central Bank (BCRA) reserves reached USD 47.508 billion, a level not seen in years, providing a solid financial cushion.
The province of Neuquén (located in northern Patagonia) has established itself as the main engine of national economic growth. Provincial exports increased by 103.5% in the first two months of 2026, jumping from USD 1.695 billion to USD 3.450 billion.
Responsible for 98% of this growth is Vaca Muerta, a geological formation that has become the heart of Argentine energy production (comparable to the Permian Basin in the USA). The province's share of national energy exports rose to 54.7%, consolidating Neuquén as the country's leading energy exporter.
Projections for the full year are encouraging: energy exports are estimated to reach USD 11 billion in 2026, which would result in a trade surplus close to USD 9.7 billion.
Energy companies projected operations with oil at USD 70 per barrel, but the international context suggests Brent crude will remain above USD 75 per barrel, further improving profitability prospects for the sector.
| Indicator | Value | Context |
|---|---|---|
| Official Dollar | $1.480 (sale) | Exchange stability |
| Blue Dollar | $1.480 | Parallel market equal to official |
| Crypto Dollar | $1.531 | Minimal gap |
| Country Risk | 425 basis points | Lowest since April 2018 |
| BCRA Reserves | USD 47.508 billion | Historical level |
| Estimated June Inflation | 2.1% | Deceleration trend |
Despite the positive news, the foreign exchange market shows signs of slowing down. The BCRA reduced its daily purchases from USD 138 million (April-May) to USD 79 million (June), hitting a low of USD 50 million on Monday, June 22, 2026.
The wholesale dollar rose 3.8% in June, while estimated inflation stands at 2%. Private sector demand exceeds USD 2 billion monthly, creating pressure on reserves. Consulting firms anticipate an orderly exchange rate increase for the second half of the year.
The Argentina LNG project awarded the IGTP plant contract to the UTE SACDE-Tecnimont joint venture. YPF (the state-owned energy company) and ENI are promoting development to export LNG (Liquefied Natural Gas) from Golfo San Matías, an initiative projecting massive investments and the creation of 5,000 jobs.
Argentina is strategically positioning itself to export energy to Australia from Puerto Rosales, diversifying its markets and strengthening its international insertion in the energy sector.
Official data released on 23/06/2026. Macroeconomic context: BCRA, INDEC. Vaca Muerta information: Province of Neuquén.
Alfredo S. Quiroga
