Milei before investors in Paris: “2028 is going to be the best economic year in our history”

President Javier Milei assured that 2028 will be the best economic year in Argentine history if his Government is reelected in 2027, during a speech before investors, entrepreneurs, and international leaders as part of Argentina Week in Paris.

“Any investor who closely follows Argentina knows that if our Government is reelected in 2027, 2028 will be the best economic year in our history,” the president stated. He explained that investments in energy, mining, and agribusiness that are already underway will accelerate, and new sectors will begin to arrive in the country.

Milei also stated that Argentina seeks to become “the country with the greatest economic freedom in the world” and emphasized that the Government aims to consolidate the country as one of the most open and market-friendly economies in the West.

The President defended fiscal adjustment and balance

During his presentation, Milei reviewed the main results he attributed to his economic program and reiterated his defense of fiscal adjustment as the foundation for stabilization.

The President claimed that his Government inherited a State with a consolidated fiscal deficit of 15 points of GDP and assured that he managed to eliminate it in just six months. He also highlighted the decrease in inflation, the reduction of country risk, and the elimination of currency controls.

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According to the data presented by the president, inflation dropped from 211% to around 30%, while country risk fell from 3000 to about 600 points. Additionally, he stated that the economy expanded by nearly 13%, 520,000 jobs were created, and 12 million Argentines were lifted out of poverty.

Milei asserted that these results are a consequence of the change in the economic model and emphasized that macroeconomic order and economic freedom are the central tools to harness Argentina's productive potential.

Energy, mining, and agriculture: the keys Milei presented to Europe

One of the main focuses of the speech was Argentina's potential to supply energy and strategic resources to international markets.

Milei particularly highlighted the development of Vaca Muerta and the Argentina LNG project, which YPF is promoting together with the Italian company ENI and XRG from the United Arab Emirates. He explained that the project envisions a production of 12 million tons of liquefied natural gas annually.

The President also emphasized Argentina's reserves of copper, lithium, and uranium, in addition to the potential of the agricultural sector. In this regard, he suggested that Argentina can complement its production with that of European countries and deepen the ties between capital and human resources from both regions.

He also defended the Incentive Regime for Large Investments (RIGI) as a tool to accelerate new projects and rejected criticisms that claim the Government's economic model harms the industry.

According to the figures presented by Milei, during its first two years, the RIGI accumulated over US$45 billion in approved projects and US$200 billion presented.

Milei pointed to artificial intelligence as another opportunity for Argentina

The president also dedicated part of his presentation to the development of artificial intelligence, one of the areas he considers strategic for the country's economic future.

Milei stated that Argentina has the energy, minerals, territory, and human capital to become one of the leading countries in this new industry. He also anticipated that the Government will advance with a legal framework aimed at providing solutions for companies related to artificial intelligence.

For the President, the combination of abundant energy, natural resources, human capital, and an open economy can make Argentina an attractive destination for large technological investments.

“Populism is not fought with more populism”

Another central moment of the speech occurred when Milei rejected the possibility of changing the economic course for electoral purposes.

In response to those who suggest the need to promote spending measures for the elections, the President asserted that “the most important asset of our Government is its word” and stated that he will not change his principles to gain votes.

“Populism is not fought with more populism, but with more freedom and more orthodoxy,” he affirmed.

Milei also highlighted the approval of the first budget with fiscal balance in a century and the reforms promoted by the Government, including Labor Modernization, the adjustment of the Glacier Law, the Tax Innocence Law, and trade agreements with the European Union, EFTA, and Singapore.

Milei stated that Argentina seeks to achieve investment grade

Towards the end of his speech, the President assured that if Argentina maintains its course and his Government achieves reelection, the country could reach investment grade during his second term.

Milei stated that a drop in country risk and interest rates would allow for increased investment and credit, boosting growth, real wages, and a new reduction in poverty.

He also suggested that Argentina can triple the level of openness of its economy and move from thinking about an internal market of around 47 or 48 million people to one of 8 billion consumers.

In closing, Milei called on European investors to bet on Argentina and assured that “if 2028 is going to be the best year in our history, the time to bet on Argentina is now”. The President ended his presentation with his traditional slogan: “Long live freedom, damn it”