Record optimism among Argentine CEOs for 2025: Over 90% expect economic growth

[earlyretirement]

Record optimism among Argentine CEOs for 2025: over 90% expect economic growth and almost half plan to increase staff.

The optimism among Argentine CEOs has reached record levels for 2025, with more than 90% of executives expecting economic growth and nearly half planning to increase their staff. This marked change in expectations contrasts notably with the outlook for 2024, when 82% of those surveyed were pessimistic about the future.

The shift towards a more positive outlook is mainly attributed to two key factors:

Decrease in inflationary expectations: The reduction of inflation to levels below 3% monthly has significantly reduced executives' concerns. A year ago, 61% of Argentine CEOs perceived their company as highly exposed to the inflationary process, while in 2025 this percentage has dropped to 33%.

Macroeconomic normalization: The process of adjusting the fiscal deficit and stabilizing macroeconomic variables has generated a new horizon for businesses.

Economic growth: 9 out of 10 Argentine executives expect the local economy to gain momentum and take off in 2025.

Staff increase: Almost half of the CEOs anticipate incorporating more personnel into their companies in the next 12 months.

Improvement in turnover and profitability: More than half of the executives anticipate an increase in their companies' turnover and profitability over the next three years.

The optimism of Argentine CEOs is framed within a positive global panorama:

Globally, 60% of CEOs expect economic growth to accelerate in 2025, compared to 38% last year.
Argentina leads the region's growth projections for 2025.

Despite the widespread optimism, Argentine executives identify some risks:

Technological disruption: 30% of local CEOs consider their company to be highly exposed to this threat.

Talent shortage: 22% of business leaders indicate high exposure to the lack of collaborators with key skills.

The business outlook in Argentina for 2025 appears notably more favorable than in previous years, driven by economic stabilization and growth expectations. However, CEOs will need to remain attentive to technological and human capital challenges to capitalize on these growth opportunities.

Los CEO argentinos están entre los más optimistas del mundo

Más del 90% de los ejecutivos cree que la economía crecerá en 2025. Gracias a la caída en los niveles de un inflación y el ordenamiento de la macro, dicen que este año aumentará la facturación y mejorarán los niveles de rentabilidad

www.cronista.com

 

[Vince]

I think once they finally end the Cepo things will get much better for Argentina and normalize more.

 

[Petey]

It is confusing as I read the IMF didn't want to give more funds until they end the currency controls but I read that more money is coming and people here are telling me the controls won't end before the elections.

 

[CraigM]

It is confusing as I read the IMF didn't want to give more funds until they end the currency controls but I read that more money is coming and people here are telling me the controls won't end before the elections.

I would ignore the press on this issue. Whatever power the IMF thought they had, there is a new sheriff in town and the independence they've enjoyed for decades is likely coming to an end. Milei was a VIP guest at Trump's inauguration, he is viewed as the hero who broke the socialist's stronghold on South America. Trump will do what's best for America, but Argentina will enjoy "very favored nation" status as long as Milei continues to play his cards right.

 

[Petey]

I would ignore the press on this issue. Whatever power the IMF thought they had, there is a new sheriff in town and the independence they've enjoyed for decades is likely coming to an end. Milei was a VIP guest at Trump's inauguration, he is viewed as the hero who broke the socialist's stronghold on South America. Trump will do what's best for America, but Argentina will enjoy "very favored nation" status as long as Milei continues to play his cards right.

That is a good point. I wasn't following Argentina at all before this trip. Now that I am going to buy a place here I am trying to follow all the news. I am very surprised Trump is so attached to Milei. I see he invited Milei several times already and he was the first world leader to meet after he won.

I think you are right Craig. Thanks for your input. It feels like Europe here. I still can't believe we are in South America. The weather has been very pleasant.

 

[Blockchain]

I would ignore the press on this issue. Whatever power the IMF thought they had, there is a new sheriff in town and the independence they've enjoyed for decades is likely coming to an end. Milei was a VIP guest at Trump's inauguration, he is viewed as the hero who broke the socialist's stronghold on South America. Trump will do what's best for America, but Argentina will enjoy "very favored nation" status as long as Milei continues to play his cards right.

I think you are right @CraigM. At first I thought it was just a phase with Trump and Milei. But I honestly think that people are realizing that this is the key and the path forward. World leaders were always scared to do what Milei is doing with austerity. They never thought he would be successful. It is very painful and tough to believe but people are willing to endure the pain. If I wasn't there and seeing it with my own eyes I wouldn't believe it.

I talked to people that told me their cost of living jumped up 3 fold on their utility bills but they were still supporting Milei.

Any other president would have daily protests but there have not been many at all. I heard it was torture with these people blocking vital roads and highways but this government won't tolerate it. Even though it is more expensive to live many support this government 100%

It is kind of crazy to think there is still so much support. Sometimes I don't believe the polls and don't quite understand the pain people are putting up with but still seemingly supportive. Are these poll numbers to be trusted?

 

[Betsy Ross]

I would ignore the press on this issue. Whatever power the IMF thought they had, there is a new sheriff in town and the independence they've enjoyed for decades is likely coming to an end. Milei was a VIP guest at Trump's inauguration, he is viewed as the hero who broke the socialist's stronghold on South America. Trump will do what's best for America, but Argentina will enjoy "very favored nation" status as long as Milei continues to play his cards right.

Definitely new sheriff in town is right! People all over the world are shocked this is working.

I'm curious how future elections in Colombia and Brazil and other countries will go when elections come up.

I think you are right @CraigM. At first I thought it was just a phase with Trump and Milei. But I honestly think that people are realizing that this is the key and the path forward. World leaders were always scared to do what Milei is doing with austerity. They never thought he would be successful. It is very painful and tough to believe but people are willing to endure the pain. If I wasn't there and seeing it with my own eyes I wouldn't believe it.

I talked to people that told me their cost of living jumped up 3 fold on their utility bills but they were still supporting Milei.

Any other president would have daily protests but there have not been many at all. I heard it was torture with these people blocking vital roads and highways but this government won't tolerate it. Even though it is more expensive to live many support this government 100%

It is kind of crazy to think there is still so much support. Sometimes I don't believe the polls and don't quite understand the pain people are putting up with but still seemingly supportive. Are these poll numbers to be trusted?

Sometimes I can't believe support is still so high. Even people that are not supporters like the ability to go to the grocery store and not see prices much higher than the previous months.

 

[crypto]

It got really expensive here. I'm not sure that everyone is so optimistic. I just don't understand how/when prices will fall. It is crazy expensive for the salary levels.

 

[CraigM]

Definitely new sheriff in town is right! People all over the world are shocked this is working.

Curious to hear people's thoughts on this... Trump has a history of turning on his key people (quickly and viciously) so many believe it's just a matter of time before he turns on Milei. I'd like to think that Milei's experience in Argentine politics is a big advantage here, he must be a black belt in dealing with zealots and miscreants by now.

 

[daveholman]

I think you are right @CraigM. At first I thought it was just a phase with Trump and Milei. But I honestly think that people are realizing that this is the key and the path forward. World leaders were always scared to do what Milei is doing with austerity. They never thought he would be successful. It is very painful and tough to believe but people are willing to endure the pain. If I wasn't there and seeing it with my own eyes I wouldn't believe it.

I talked to people that told me their cost of living jumped up 3 fold on their utility bills but they were still supporting Milei.

Any other president would have daily protests but there have not been many at all. I heard it was torture with these people blocking vital roads and highways but this government won't tolerate it. Even though it is more expensive to live many support this government 100%

It is kind of crazy to think there is still so much support. Sometimes I don't believe the polls and don't quite understand the pain people are putting up with but still seemingly supportive. Are these poll numbers to be trusted?

Milei is retaining his popularity because he told the truth. He didn't sugar coat the pain reform would cause. A year later, they are seeing the results. As long as the economy continues to recover, they will stick with him. If it doesn't, he'll be a one hit wonder.

 

[daveholman]

Curious to hear people's thoughts on this... Trump has a history of turning on his key people (quickly and viciously) so many believe it's just a matter of time before he turns on Milei. I'd like to think that Milei's experience in Argentine politics is a big advantage here, he must be a black belt in dealing with zealots and miscreants by now.

Trump doesn't strike. He strikes BACK. It's really that simple.

 

[CraigM]

Trump doesn't strike. He strikes BACK. It's really that simple.

I agree with your first point, not sure about the second. Getting close to Trump in his first term was like Icarus and the sun. Survivor rate was awfully low.

 

[FuturoBA]

I think you are right @CraigM. At first I thought it was just a phase with Trump and Milei. But I honestly think that people are realizing that this is the key and the path forward. World leaders were always scared to do what Milei is doing with austerity. They never thought he would be successful. It is very painful and tough to believe but people are willing to endure the pain. If I wasn't there and seeing it with my own eyes I wouldn't believe it.

I talked to people that told me their cost of living jumped up 3 fold on their utility bills but they were still supporting Milei.

Any other president would have daily protests but there have not been many at all. I heard it was torture with these people blocking vital roads and highways but this government won't tolerate it. Even though it is more expensive to live many support this government 100%

It is kind of crazy to think there is still so much support. Sometimes I don't believe the polls and don't quite understand the pain people are putting up with but still seemingly supportive. Are these poll numbers to be trusted?

Some of the folks I've talked to admitted they were worried when Milei took office, but with things stabilizing more, they're more optimistic now.

 

[crypto]

Some of the folks I've talked to admitted they were worried when Milei took office, but with things stabilizing more, they're more optimistic now.

But what is their game plan for how expensive things are with the overvalued peso? Once prices go up I find they rarely come down. I'm just trying to figure out the end game. Inflation has slowed but still going up. I don't understand enough about how prices are going to get to reasonable levels. Yes I get salaries are going up but not that much.

 

[daveholman]

But what is their game plan for how expensive things are with the overvalued peso? Once prices go up I find they rarely come down. I'm just trying to figure out the end game. Inflation has slowed but still going up. I don't understand enough about how prices are going to get to reasonable levels. Yes I get salaries are going up but not that much.

If there is 5-6% growth in GDP next year (as most are predicting), salaries will start catching up to inflation, and many new jobs will be created. Granted, floating the peso will create inflationary pressure, but that's the tightrope the Argentine economy is walking right now.
Bottom line is if growth continues at a 5% clip for a couple years, everything else will balance out.
That's the theory anyway.

 

[Cheap Bastard]

Curious to hear people's thoughts on this... Trump has a history of turning on his key people (quickly and viciously) so many believe it's just a matter of time before he turns on Milei. I'd like to think that Milei's experience in Argentine politics is a big advantage here, he must be a black belt in dealing with zealots and miscreants by now.

This is what I don't trust about Trump. It will be interesting if Trump pulls a Milei and does exactly what he said he was going to do before the elections.

I'm not exactly a big fan of Milei because he is terrible for my wallet. He made everything expensive overnight for me and other expats. But one thing I gotta admit is everything he is doing he said he would do. I think that is why people respect him.

Trump has a history of going back on what he said he will do. Maybe Milei will give him some advice. Trump to me is a wildcard.

 

[Cheap Bastard]

But what is their game plan for how expensive things are with the overvalued peso? Once prices go up I find they rarely come down. I'm just trying to figure out the end game. Inflation has slowed but still going up. I don't understand enough about how prices are going to get to reasonable levels. Yes I get salaries are going up but not that much.

I wonder about this too. Restaurants and stores don't seem to have any desire or plan to lower prices. I see a lot of stores empty. Restaurants are not nearly as busy either. I think prices are way too high.

If there is 5-6% growth in GDP next year (as most are predicting), salaries will start catching up to inflation, and many new jobs will be created. Granted, floating the peso will create inflationary pressure, but that's the tightrope the Argentine economy is walking right now.
Bottom line is if growth continues at a 5% clip for a couple years, everything else will balance out.
That's the theory anyway.

But if salaries keep going up then prices will just keep going up too I assume. Prices are already high so unless I am wrong won't prices keep going up? Selfishly I hope after the cepo and they float the currency I hope blue rate jumps up. But inflation would be close behind.

@daveholman thanks for your theory. I guess that seems to be the consensus but I assume any sign of trouble after cepo ends the blue dollar will jump up and inflation is back. No?

 

[Blockchain]

Curious to hear people's thoughts on this... Trump has a history of turning on his key people (quickly and viciously) so many believe it's just a matter of time before he turns on Milei. I'd like to think that Milei's experience in Argentine politics is a big advantage here, he must be a black belt in dealing with zealots and miscreants by now.

Well Trump usually does batshit crazy stuff and then people turn on him because they don't want to be associated with him. Trump does what is good for Trump. I don't even think he does what is good for USA but what is good for him. I don't think he was a bad President before.

I think if Milei's party wins in the mid-term elections all bets are off and he will have unprecedented power to follow his agenda.

 

[Uncle Wong]

I would ignore the press on this issue. Whatever power the IMF thought they had, there is a new sheriff in town and the independence they've enjoyed for decades is likely coming to an end. Milei was a VIP guest at Trump's inauguration, he is viewed as the hero who broke the socialist's stronghold on South America. Trump will do what's best for America, but Argentina will enjoy "very favored nation" status as long as Milei continues to play his cards right.

Great advice! I think with the USA being the most important member of the IMF and Trump and Milei best friends now I think things are different. I think Argentina is in a good spot right now. Painful year and maybe this year will be tough but things look to be going in the right direction.

Curious to hear people's thoughts on this... Trump has a history of turning on his key people (quickly and viciously) so many believe it's just a matter of time before he turns on Milei. I'd like to think that Milei's experience in Argentine politics is a big advantage here, he must be a black belt in dealing with zealots and miscreants by now.

Let's see. I can think of all the ways the USA can help Argentina but I don't understand all the ways Argentina can help the USA except maybe the rest of Latin America might follow in Argentina's footsteps and get rid of their terrible leaders like Argentina had before. I can't imagine what Milei is dealing with.

Some of the folks I've talked to admitted they were worried when Milei took office, but with things stabilizing more, they're more optimistic now.

Same with me. Even those that think he is terrible appreciate the decreasing inflation. I am still not sure how much of this is real and how much inflation will jump back up once the peso finds a fair value. No one I know. No one tells me they think the peso is valued this strong. So I don't understand how inflation will stay contained if the peso devalues.

If there is 5-6% growth in GDP next year (as most are predicting), salaries will start catching up to inflation, and many new jobs will be created. Granted, floating the peso will create inflationary pressure, but that's the tightrope the Argentine economy is walking right now.
Bottom line is if growth continues at a 5% clip for a couple years, everything else will balance out.
That's the theory anyway.

But what if growth isn't anywhere near there? I get that banks are making money hand over fist with Argentine stocks so they will probably hype up growth potential. But I wonder if they take the other side how quickly this could turn. Recession looks like it may have turned but things don't look extremely rosy either.