President Javier Milei addressed the economic situation in Argentina on April 9, following the release of new data showing a decline in both the manufacturing and construction sectors. Using his social media accounts, Milei acknowledged that recent months have been difficult for Argentinians but insisted that current trends indicate substantial improvement compared to 2023.
The statement from Milei came shortly after Indec published figures indicating an 8.7% year-on-year drop in manufacturing activity and a 0.7% contraction in construction for February. These numbers have raised concerns about the country’s economic recovery.
Milei attributed these challenges to what he described as “the cost of the bombs left by irresponsible psychopathic Kirchnerists” and maintained that fiscal austerity remains non-negotiable. “We know these last few months were tough, but the direction is correct. Changing it would blow up what has been achieved,” Milei said.
Despite negative indicators in key sectors, the president pointed to other achievements of his administration, including reaching what he claims is the lowest poverty level in seven years. He also admitted that improvements do not progress at the same speed for everyone and that statistics often reflect averages which may not immediately benefit vulnerable groups. According to Milei, “the economy is starting to take off strongly” with expectations of more jobs and higher real wages soon.
In his remarks, Milei criticized journalists for being “the voice of their bosses” rather than representing public opinion. He stated: “It is unsustainable that 100% of television headlines insist everything is bad. That is not analysis: it’s narrative,” reiterating his refusal to be influenced by media criticism.
Official reports detailed further declines: beyond year-on-year drops, industrial production fell by four percent compared to January while construction decreased by 1.3 percent over the previous month but showed a slight cumulative increase during the first two months of this year.
Observers will be watching closely as government policies continue amid mixed signals from different parts of Argentina’s economy.
