Ambitious official targets

ARGENTINA - In Brief 17 Sep 2024 by Domingo Cavallo
President Javier Milei presented the 2025 budget proposal to the Chamber of Deputies. Normally, this procedure is carried out by the Minister of Economy, but this year the head of state wanted to do it personally to emphasize that balancing the fiscal accounts is the crucial goal of his economic administration. In the message accompanying the budget proposal, official projections for GDP growth and inflation for the years 2025, 2026, and 2027 are presented. The projections for 2025 are very different from those in the Market Expectations Survey (REM). While the REM projects GDP growth of 3.5% for 2025, the budget forecast is 5%. The difference is even greater for the inflation rate measured by the CPI. The REM projects 38.4% for the entire year 2025, while the budget proposal forecasts 18.3%.

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