May 19, 2024 11:15 pm
Argentina looks forward to economic reforms by Milei to boost its knowledge economy

In 2024, a survey was conducted among Argentine entrepreneurs in the knowledge economy sector to gauge their expectations for the economic reforms implemented by President Javier Milei’s administration. The study revealed that 80% of respondents anticipated an increase in exports due to the government’s focus on liberalization policies, with half of them expecting export growth to exceed 10%.

The survey included 28 companies from the knowledge economy sector, with a majority of respondents coming from information technology and professional services industries. According to a report from the first half of 2023, exports of knowledge-based services in Argentina reached US$8.06 billion, showing an annual increase of 8.8%.

Looking ahead, many entrepreneurs are optimistic about employment rates in the knowledge economy sector. Seventy percent of respondents expect growth in employment rates, with over half anticipating a growth rate over 10%. Professional services companies were particularly optimistic, foreseeing growth rates over 20%. However, challenges such as difficult access to foreign currency, exchange rate volatility, regulatory complexity, and limitations on paying salaries in US dollars were mentioned as potential obstacles to growth.

Despite these challenges, Argencon’s president, Sebastián Mocorrea, believes that removing foreign exchange restrictions, stabilizing exchange rates, simplifying regulations and reforming labor markets will significantly enhance the competitiveness of the knowledge economy sector. This could lead to increased employment and exports in the coming years. Looking ahead, many companies are hopeful that demand for knowledge-based services in Latin America will continue to grow at a faster pace than global growth rates.

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