29/06/2026 21:39 - Economia
In an extensive televised interview on Sunday night, President Javier Milei appeared extremely optimistic about the state of Argentina's economy. He assured that the "numbers are excellent" and that the economy has already entered a path of sustained growth, driven by consumption, investment, and exports.
Milei sparked controversy by stating that the implied country risk in bonds maturing during his administration is only 60 basis points. This figure sharply contrasts with J.P. Morgan's traditional index, which shows values of 420 to 430 basis points. According to the president, the difference lies in which instruments are taken as reference for the calculation.
What is Country Risk? It's a financial indicator measuring the probability that a country will default on its debt payments. A lower value indicates greater investor confidence.
The president was emphatic in his vision for the future: "If we achieve re-election, the economy will grow like never before in Argentine history". He added that if country risk decreases, the economy "will soar", predicting potential annual growth of 7-8% based on consumption, exports, and investment.
Regarding inflation, Milei acknowledged that the rate of decline has been slower than expected, but attributed this situation to the "fall in money demand" and other factors in the second half of 2025. However, he guaranteed that "we are not going to change the way we conduct monetary policy" and that "sooner or later we will eliminate inflation".
Regarding Gross Domestic Product (GDP), the president compared his administration's performance with the historical average. He noted that while Argentina's economy grew at an average of 1% annually over the last hundred years, during his administration it grew at a rate of 10% in the first two years, multiplying the historical rate by five. He also highlighted the EMAE (Monthly Economic Activity Estimator) data, which grew 2.3% in the first quarter of 2026, with a seasonally adjusted increase of 0.7%.
The interview also addressed hot political topics. Milei confirmed the departure of Manuel Adorni as Chief of Staff and his replacement by Diego Santilli, who will also retain his position as Minister of the Interior, unifying both functions. The president justified this decision by noting that much of Santilli's work will consist of maintaining dialogue with provincial governors, a crucial task for governance.
Milei mentioned that investments committed through RIGI (Large Investment Incentive Regime), valued at USD 150 billion, will begin to materialize in a "fragmented" manner. He also projected a "consumption boom" driven by pension increases as inflation decreases and by the recovery of formal employment income, which according to the president "have stopped falling and are starting to grow".
What is RIGI? It's a special regulatory framework designed to attract large-scale foreign investments to Argentina by offering tax benefits and legal certainty for major projects.
Alfredo S. Quiroga
