Argentina Economy Posts Best Month Under Milei

[MilHojas]

Argentina Economy Posts Best Month Under Milei Despite Austerity

Archived version

The agriculture sector drove annual growth in May, more than doubling production from last year when the country suffered a brutal drought, while construction, manufacturing and retail declined, according to the report.

Apparently, there was a drought last year, but now, under Milei's effective leadership, the issue has been resolved. Everything else has declined. Now it's time to celebrate.

 

[Ruta Otto]

Argentina Economy Posts Best Month Under Milei Despite Austerity

Archived version



Apparently, there was a drought last year, but now, under Milei's effective leadership, the issue has been resolved. Everything else has declined. Now it's time to celebrate.

Relying on Ag to save your bacon is hit or miss, depending on the weather. It's great as a sector, but it can't be the only thing. The same is true for extraction industries. Sooner or later the next best thing comes along and all that oil/lithium/coal/etc. will be obsolete. Better to use these resources to develop value added industries for export and to move away from punishing said industries with punitive export taxes. Most developed countries rely on a varied economy. The ones that don't (Russia, Venezuela, Argentina come to mind) are at the mercy of the heavens or politics or both.