30/07/2026 09:51 - Economia
As reported by Ámbito, Infobae and MDZol, Argentina's gross domestic investment (IBIM) contracted by 7.6% in the first half of 2026 compared to the same period in 2025. While the numbers are challenging, the country's economic history and a wave of large-scale projects under the RIGI regime offer a hopeful outlook.
The IBIM, calculated by the consulting firm Orlando Ferreres & Asociados (OJF), tracks investment in machinery, equipment, and construction. On July 30, 2026, OJF reported that the June index was 6.2% lower than in June 2025, bringing the first-half cumulative decline to 7.6%. In dollar terms, investment reached USD 7.464 billion in June, equivalent to 17.2% of seasonally adjusted GDP.
| Sector | Year-on-Year Change (June 2026) | First Half Cumulative |
|---|---|---|
| Machinery & Equipment (Total) | -11.2% | -12.2% |
| Domestic Equipment | -9.5% | - |
| Imported Equipment | -12.7% | - |
| Construction | +0.4% | -1.7% |
The Régimen de Incentivos a las Grandes Inversiones (RIGI) is a special regulatory framework designed to attract mega-investments into strategic sectors such as mining, energy, oil & gas, steel, and infrastructure. Despite the overall investment dip, the RIGI is already showing remarkable results: 19 projects have been approved, committing USD 36.424 billion and expected to generate 61,123 direct and indirect jobs.
Furthermore, the government is evaluating 24 additional projects worth USD 111.5 billion, which could create another 137,522 jobs if approved. The majority of these initiatives are in mining (10 projects), followed by oil & gas (5), energy (2), steel (1), and infrastructure (1). This influx of foreign capital is a powerful seed for long-term development.
According to an analysis by Professor Lucas Pussetto of the IAE Business School, first-quarter investment in 2026 was still 3% below the last quarter of the previous administration. The historical peak of investment in Argentina was in 2017. However, comparable stabilization processes in Chile (1975) and Israel (1985) show a consistent pattern: private investment does not lead the recovery; it follows it.
Capacity utilization stood at 58.4% in May 2026, meaning many companies can still increase production without new machinery. With inflation falling, foreign reserves accumulating, and structural reforms underway, the conditions for a future investment boom are being built. When institutional stability and demand align, investment historically surpasses pre-crisis levels, promising sustained growth for Argentina.
Alfredo S. Quiroga
