Milei defends economic record, projects growth and re-election bid

Argentine President Javier Milei defended his economic management in a radio interview, acknowledging that indicators are not evolving as quickly as his government had hoped. He said the current situation still represents an improvement over the scenario he inherited when he took office, summarizing his view with the phrase that the photo is horrible but the movie is the best in history.

Milei admitted that poverty and indigence remain serious problems, but insisted both are lower than at the start of his administration. He cited 42 percent of children as poor, compared with 70 percent when his government began, and argued that households today are better off than they were before.

“The photo is horrible, but the movie is the best in history.”

The president acknowledged that inflation is falling more slowly than expected because economic growth has come in below projections. He said weaker growth reduces money demand, which in turn slows the pace of disinflation, and conceded that indicators have not evolved as positively as initially hoped.

Milei also criticized journalists and polling firms for describing Argentines as unable to make ends meet, calling the phrase unrealistic. He asked how someone could go ten days without eating or drinking if they run out of money on the twentieth of the month, and warned that borrowing only postpones the problem.

Looking ahead, Milei expressed confidence in winning re-election in 2027 and said Argentines would not vote to return to what he called a hundred years of decadence. He linked his electoral prospects to economic indicators such as inflation, per capita GDP, poverty and security.

The president projected that country risk could fall to 200 basis points and that the economy could grow between 7 and 8 percent after an electoral victory. He also said Argentina could double its GDP in ten years, quadruple per capita GDP in two decades, and become a developed country within fifteen to twenty years.

Milei defended structural reforms and deregulation, especially in energy and mining, and highlighted the Large Investment Incentive Regime. He said the program brings together projects worth 210 billion US dollars, of which 70 billion dollars are already approved.