Argentina’s economy contracted by 1.7% in 2024, driven by austerity measures that reduced consumption and investment. Investment dropped sharply by 17.4%, while private consumption fell by 4.2% and public spending decreased by 3.2%. Exports surged by 23.2%, and imports fell by 10.6%. The hardest-hit sectors included construction, down 17.7%, and manufacturing, which saw a 9.2% decline. The slowdown was milder than expected, although the government’s fiscal policies had a significant impact.