Will Javier Milei Change Argentina? An Initial Analysis
On November 19, Argentine voters elected Javier Milei, President of the Argentine Republic. Milei, an outsider with little political experience, is known for his “liberal” (in the Milton Friedman sense of the word) economic stances and his passionate televised appearances. His zealous repudiation of Argentina’s history of government intervention in the economy and redistribution of wealth has captured worldwide attention. The Milei Phenomenon Javier Milei is an economist and ardent defender of liberal…
Libertarian Javier Milei to become Argentina’s next president
The ruling party’s presidential candidate, Peronist and current Minister of Economy of Argentina, Sergio Massa, acknowledged on Sunday the victory of his libertarian and far-right contender, Javier Milei, in the second round of elections in the country. The candidate of Libertad Avanza surpassed Massa in the ballotage by almost 8 points. The support received in the country’s interior, especially in Córdoba and Mendoza, was decisive, it was reported. Almost 50 minutes before the time announced for…
Two-thirds of high-net-worth individuals investing in Uruguay are Argentinean: What do they know?
The sector of investment advisors and portfolio managers in Uruguay grew in the number of clients and employees last year. This sector currently manages the money of 36,170 clients, 63% of whom are Argentine, with a total of US$ 28.93 billion invested in different instruments. Data released by the Central Bank of Uruguay (BCU) shows that at the end of 2022, there were 67 portfolio managers and 106 investment advisors in the country. This is an increase of 10 from the previous year. Portfolio managers are legal…
Ranking: The five cities with the most expensive real estate in Argentina
It is historical, the properties located in the city of Buenos Aires are the most expensive in the country. Without going any further, according to the latest Index from the Zonaprop portal, in November, the average price of an apartment was US$2,562/m². However, the purchase price of real estate in some cities in the interior of the country is not far behind either. Based on a private survey by Zonaprop, which LA NACION was able to access, in which the cities that have -at least- between 400 and 1,300 properties…
From 1977 to 2023: what happened to residential property prices after each presidential election in Argentina?
After four years of declining property prices, values have stabilized, and there are promising signs of recovery: the analysis of the last 46 years in the Argentine real estate market. A few days before the presidential elections in Argentina, the real estate market is beginning to show signs of an imminent change in trend. To understand the complex behaviour of the sector, it is vital to contextualize the historical fluctuations of different economic moments, such as growth and recession cycles.…
BBVA: Argentina Economic Outlook October 2023
The surprising outcome of the primary elections left an open end to the October voting and heightened uncertainty, increasing volatility and further worsening expectations for the coming year. We maintain our scenario of recession and high inflation for 2023 and 2024. The most-voted candidate in the primary elections (PASO) was Javier Milei of La Libertad Avanza, who was third in the polls. This surprising result leaves an open scenario for the general elections of October 22, given the small difference between…
The new NK Gasduct in Argentina: an unprecedented feat in terms of construction time and economic value
The President Néstor Kirchner Gas Pipeline (GPNK), the most critical energy infrastructure project of the last 40 years, was carried out in record time – six months for the production of tubes, ten months for civil works – thanks to the industrial muscle of the companies of the Techint Group. The GPNK, inaugurated last July, constitutes Argentina’s most relevant energy infrastructure work in the previous four decades. Furthermore, it is possible to enhance the development of Vaca Muerta oil and…
Consolidation of South American meat processing plants
Minerva Foods was the biggest exporter of beef in South America. It will take control of a San Luis unit in an operation worth US$ 1.5 billion for it and 16 other Marfrig Global Foods plants in Mercosur. Minerva Foods controls Swift in Rosario. Swift Argentina In Mercosur, the Brazilian company Minerva Foods, the biggest exporter of beef in South America, now controls 16 refrigeration plants owned by its rival, Brazilian Marfrig. Argentina, where they bought an establishment, will consolidate their number one…
Argentina’s Economy Report 2023
What’s in store for Argentina’s economy? The Argentinian economy is going through turbulent times amid hyperinflation, a crumbling peso, a brutal drought hitting agricultural output, and general elections scheduled for October. Our country report cuts through the uncertainty with focused written analysis, tables, charts and forecasts from over 50 expert analysts for dozens of key economic indicators. About FocusEconomics FocusEconomics is a leading provider of economic analysis and forecasts for over 200…
How landlords and tenants survive in a country with 100% plus inflation
Landlords and Tenants in Argentina are between a rock and a hard place. There is a substantial rental property shortage caused by an incompetent government that made laws that made it so unattractive for Landlords to rent properties that many choose to short-term their properties using tools like Airbnb. Hopefully, a new government will change these, making the market more stable. The Chamber of Deputies passed a bill this week that proposes, to put it simply, to restore some of the controversial aspects of…
Argentina’s likely new President intends to snap the current oppressive farming taxes and privatise the state oil company.
Javier Milei – the libertarian candidate in Argentina’s Presidential Election – would remove state interference from Argentina’s massive farming industry, resulting in a boom in exports and foreign investment. Milei, a free-market advocate, promised to dismantle the policies that have prevented agricultural investment in this century. Milei would eliminate export tax quotas and unify the foreign exchange rate. He also wants to stop direct interference in food prices. On Wednesday, Milei…
Key economic indicators of Argentina – Statistics & Facts for 2023
Argentina is considered a developing nation of upper-middle-income. It is the third largest economy in Latin America and, as its membership in the G20 and prospective accession to the OECD reflect, it stands among the world’s major economies. Argentine GDP was estimated at 488.6 billion U.S. dollars in 2021, considerably far from the GDP of its regional competitors, Brazil and Mexico. Nevertheless, since the GDP is not adjusted for a country’s population size, GDP per capita is better suited for country-to-country…
Argentines continue to flock to Uruguay to Invest
Data released by the Central Bank of Uruguay (BCU) reveals that, as of December 31, 2022, the investment advisors and portfolio managers sector in Uruguay had grown in terms of clients and employees. Specifically, there were 67 portfolio managers and 106 investment advisors in the country, an increase of 10 from the previous year. These advisors and managers managed the assets of 36,170 clients, 21.5% more than at the end of 2021, and employed 951 people. Of the total number of clients, 63.7% were Argentines,…
Buenos Aires ranked the Best City in Latin America for Event Tourism
The City of Buenos Aires was ranked first in America in the 2022 edition of the ranking prepared by the International Association of Congresses and Conventions (ICCA) after holding 66 approved events and climbing one position compared to the previous year’s list. , in which it was second behind Montreal. Within the framework of the recovery of meeting tourism, it should be noted that this is 52% of the ICCA events that took place in the City during 2019, In addition, the national capital again held first…
Argentina again flirts with Hyperinflation
Argentina has taken a sharp turn for the worse, with the Argentine peso losing half its value in one year, prices doubling, and pesos doubling. What’s worse is that this results from almost one hundred years of fiscal dominance, where the central bank always accommodates the government’s deficit. This has caused more than half of the population to fall into poverty, and the highest earners have incomes comparable to the lowest earners in developed countries. On top of this, Argentina has price controls,…
