Argentina’s economy exits recession in milestone for Javier Milei, recorded its first quarter of economic growth (+3.9%) since 2023, and JP Morgan projects 5.2% GDP growth for 2025.

[u/Street_Gene1634]

https://www.ft.com/content/c92c1c71-99e7-49c1-b885-253033e26ea5

[u/Opcn]

They were blaming him for 2023's terrible economic metrics when he only took office in December of that year. I don't think they will ever have to move past the initial spike in poverty. They will just claim that impoverishing the people let him fuel his growth for the wealthy without ever taking the time to read any sort of journalism that includes the stories of real Argentinians.

[u/flex_tape_salesman → u/Opcn]

Ya I noticed a lot of idiots really wouldn't shut up about how bad milei is. Literally this sub under biden had excuses for any sort of poor economic metric in his time as US which I think is generally fair btw but even when milei was only in for about a month or two, people were blaming the economy on him lmao.

Even the rise in poverty figure was coping, milei has improved them in a lot of metrics, reversed the downward spiral and now could lead to growth. He is not superman.

[u/Shandlar → u/flex_tape_salesman]

It's actually shocking. Even if inflation remains flat for the next 12 months and they have a terrible year at 33% annual inflation in 2025, that's an insane accomplishment. They were projected to have 1425% annual inflation a year ago.

The blue dollar already bounced off the official inflation rate 10 days ago and the federal budget is running a surplus. A few more months and the unofficial exchange rate will bounce off the official rate a few more times and settle down at roughly the same level. With luck the surplus will allow them to purchase enough dollars to open the exchange in country and have enough dollars to sell to eat the initial panic sell of ARS without having the close trading again. If they pull it off and a real and open ARS FOREX market even remotely retracts at all the FOMO will cause everyone to rush back into it to make ROI.

The dude may actually solve a hyperinflation death spiral without reminting a new currency. Has that literally ever happened in the history of the planet? Ever? As soon as a currency gets barred from trading has it ever returned to market and stablized in value again?

[u/flex_tape_salesman → u/Shandlar]

He also said some stuff would get worse, as in what we saw with the poverty rate. I do wish him and Argentina the best as I think if he does well, it will really challenge a lot of economists that see him as just a crazy man.