
July 2025Volume 2025/20 OECD Economic Surveys:Argentina2025 This work was approved and declassified by the Economic Development and Review Committee on 10/06/2025. This document, as well as any data and map included herein, are without prejudice to the status of or sovereignty overany territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use ofsuch data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements inthe West Bank under the terms of international law. Note by the Republic of Türkiye The information in this document with reference to “Cyprus” relates to the southern part of the Island. There is no singleauthority representing both Turkish and Greek Cypriot people on the Island. Türkiye recognises the Turkish Republic ofNorthern Cyprus (TRNC). Until a lasting and equitable solution is found within the context of the United Nations, Türkiyeshall preserve its position concerning the “Cyprus issue”. Note by all the European Union Member States of the OECD and the European UnionThe Republic of Cyprus is recognised by all members of the United Nations with the exception of Türkiye. Theinformation in this document relates to the area under the effective control of the Government of the Republic of Cyprus. Please cite this publication as:OECD (2025),OECD Economic Surveys: Argentina 2025, OECD Publishing, Paris, https://doi.org/10.1787/27dd6e27-en. ISBN 978-92-64-61821-3 (print)ISBN 978-92-64-68047-0 (PDF)ISBN 978-92-64-66951-2 (HTML) OECD Economic SurveysISSN 0376-6438 (print)ISSN 1609-7513 (online) Photo credits:Cover © Antonio Salaverry/Shutterstock.com. Chapter 1 © Gianfranco Vivi/Shutterstock.com.Chapter 2 © seto contreras/Shutterstock.com. Chapter 3 © smilephotoarg/Shutterstock.com. Chapter 4 © Yingna Cai/Shutterstock.com. Corrigenda to OECD publications may be found at: https://www.oecd.org/en/publications/support/corrigenda.html.© OECD 2025 Attribution 4.0 International (CC BY 4.0) This work is made available under the Creative Commons Attribution 4.0 International licence. By using this work, you accept to be bound by the terms of this licence(https://creativecommons.org/licenses/by/4.0/).Attribution– you must cite the work.Translations– you must cite the original work, identify changes to the original and add the following text:In the event of any discrepancy between the original work and thetranslation, only the text of original work should be considered valid.Adaptations– you must cite the original work and add the following text:This is an adaptation of an original work by the OECD. The opinions expressed and arguments employed inthis adaptation should not be reported as representing the official views of the OECD or of its Member countries.Third-party material– the licence does not apply to third-party material in the work. If using such material, you are responsible for obtaining permission from the third party and forany claims of infringement.You must not use the OECD logo, visual identity or cover image without express permission or suggest the OECD endorses your use of the work.Any dispute arising under this licence shall be settled by arbitration in accordance with the Permanent Court of Arbitration (PCA) Arbitration Rules 2012. The seat of arbitration shallbe Paris (France). The number of arbitrators shall be one. This Economic Survey was prepared by Priscilla Fialho, Adolfo Rodriguez-Vargas, and Mafalda Trincão, withcontributions from Emilia Soldani and Gulen Devren Sahin, under the supervision of Jens Arnold. Administrative andeditorial support was provided by Sophie Jenkins and communication assistance by Laura Fortin. This Survey is published under theresponsibility of the Economic and Development Review Committee of the OECD.The Committee discussed the draft Survey on 10 June 2025. The cut-off date for data used in the Survey is 24 June2025. Information about this and previous Surveys and more information about how Surveys are prepared is available athttps://www.oecd.org/en/topics/economic-surveys.html. Table ofcontents 3 Foreword Executive summary 8 1Macroeconomic developments and policy challenges17 1.1. After a successful stabilisation, the economy has reached a turning point181.2. A strong recovery is projected for 2025 and 2026231.3. Monetary and exchange rate policies are going through significant changes251.4. Financial stability risks appear contained291.5. Sustained fiscal consolidation is key for preserving macroeconomic stability34References54 2Devising a comprehensive strategy to foster formalisation57 2.1. Widespread informality undermines productivity and income growth582.2. Breaking the cycle of informality requires a wide range of policy measures61References72 3Reaping new opportunities from the global ener