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Argentina: President Milei denies recession and cuts infrastructure
President Javier Milei has defended his economic program, asserting that Argentina is not in a recession but rather experiencing a deceleration of economic expansion. He attributed recent shifts in activity to structural changes and defended the opening of the economy. Milei also claimed that consumer spending remains at record levels, noting a shift toward e-commerce, and argued that the 7.9% unemployment rate for the second quarter of 2026 is below historical averages.
In a move to maintain fiscal surplus, the national government has canceled or transferred over 2,000 public infrastructure projects. According to the Ministry of Economy, 1,683 projects were rescinded and 457 were transferred to provinces or municipalities, leaving only 199 projects under national management, primarily in energy and rail sectors.
Regarding security, Milei stated that the Quinta de Olivos presidential residence is now operating as a military base to counter what he described as ‘heavy enemies’ at an international level. Additionally, the President claimed that authorities have deported 30,000 individuals identified as terrorists during 2025 and 2026 to protect the country’s economic model.
Entities
Argentina · Axel Kicillof · Casa Militar · Elon Musk · INDEC · Javier Milei · Ministry of Economy · Patricia Bullrich · Quinta de Olivos
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] INDEC reported that Argentina's GDP grew 2.0% year-on-year in the second quarter of 2026, but fell 0.6% compared to the first quarter on a seasonally adjusted basis. desarrollozonal.com · diariorepublica.com.ar
- [● 3 SOURCES] The Monthly Estimator of Economic Activity (EMAE) recorded a 2.9% decrease in July on a seasonally adjusted basis. desarrollozonal.com · diariorepublica.com.ar
- [● 5 SOURCES] President Milei criticized those calling for a higher exchange rate, labeling them 'cowards' for potentially reducing real wages. desarrollozonal.com · www.planbnoticias.com.ar · radiovillamaria.com.ar · eenergetica.com.ar · www.labrujula24.com
- [● 8 SOURCES] President Javier Milei denied that Argentina is in a recession, characterizing the situation as a deceleration of economic expansion. desarrollozonal.com · www.planbnoticias.com.ar · radiovillamaria.com.ar · satelitenoticias.com · diariorepublica.com.ar · +2 more
- [● 3 SOURCES] Elon Musk publicly endorsed President Milei on X, praising the significant reduction in Argentina's monthly inflation. diariopanorama.com · www.latercera.com · desarrollozonal.com
- [○ 1 SOURCE] The Consumer Price Index (IPC) rose 1.7% in August 2026. diariopanorama.com
- [● 2 SOURCES] President Milei stated that the probability of a sovereign default during his term is zero. www.labrujula24.com · desarrollozonal.com
- [● 3 SOURCES] Milei argued that the 7.9% unemployment rate recorded in the second quarter of 2026 is below the historical average. desarrollozonal.com · www.labrujula24.com · www.miperiodico.com.ar
- [● 5 SOURCES] The President claimed that consumer spending is at a record high, citing changes in purchasing modalities like e-commerce. desarrollozonal.com · www.labrujula24.com · radiovillamaria.com.ar · www.miperiodico.com.ar · rpereznetonline.com.ar
- [● 10 SOURCES] President Javier Milei denied that Argentina is in a recession, describing the situation as a deceleration of economic expansion. desarrollozonal.com · www.planbnoticias.com.ar · radiovillamaria.com.ar · diariorepublica.com.ar · eenergetica.com.ar · +4 more
- [● 6 SOURCES] Milei criticized those calling for a higher exchange rate, labeling them ‘cobards’ for potentially lowering real wages. desarrollozonal.com · www.planbnoticias.com.ar · radiovillamaria.com.ar · eenergetica.com.ar · www.labrujula24.com · +1 more
- [● 3 SOURCES] The INDEC reported that Argentina's GDP grew 2.0% year-on-year in the second quarter of 2026, despite a 0.6% quarterly decline. desarrollozonal.com · diariorepublica.com.ar