The national government warned business leaders: "Don't bet that a devaluation will save you."

The Secretary of Economic Policy, José Luis Daza , sent a direct message to business leaders yesterday during an international forum in Buenos Aires: " Don't plan ahead with a devaluation in mind; the new model is here to stay ." The statements, which support President Javier Milei 's exchange rate policy, were made during an exhibition organized by the Institute for International Finance (IIF) in the auditorium of Banco Galicia.

Daza, one of the most influential voices on Luis Caputo's economic team, defended the floating exchange rate and ruled out the government's plans for a sudden jump in the dollar. " If I were a businessman, I would accept that these changes are permanent ," he warned, in a clear attempt to discourage speculation about a possible currency slide.

According to the official, Argentina is moving toward a new macroeconomic equilibrium, with a fiscal surplus, lower debt, and expected strong dollar inflows . In this regard, he projected that, by 2030, the energy and mining balance could generate a surplus of $50 billion, and up to $60 billion in 2033, double what the agricultural sector generates today.

" We're going to see a lot of dollars coming into the country, not only from exports but also from real investment. Argentina has historically lagged behind in this regard, and now it's ready to receive capital ," Daza said. The government's view is that the exchange rate will continue to appreciate because "there will be a surplus of dollars" and not because of artificial controls or interventions.

Daza also reiterated the inflation target at record low levels. " We will end the year with the lowest rate in Latin America and below the global average ," he predicted, reinforcing the idea that slowing prices is an achievable goal within the framework of restrictive monetary and fiscal policy.

In line with that strategy, he assured that the Executive will not resort to issuing bonds to finance spending. " We are committed to not issuing more than necessary to refinance maturities. Public debt has already been reduced by $50 billion ," he emphasized.

The secretary dismissed comparisons with other episodes of current account deficits recorded in the region. "What we're seeing now is a logical outflow of dollars in a country that's recovering. Mexico had a deficit of 7% of GDP before the Tequila crisis, and several European countries exceeded 12% in 2007. This has nothing to do with that," he explained.

Daza downplayed the outflow of foreign currency from tourism, noting that in many cases it comes from private savings. " We monitor the current account, but the deficit is reasonable and does not jeopardize macroeconomic stability ," he stated.

The government thus maintains its narrative of stability, sustained growth, and fiscal discipline , discouraging speculative bets and reaffirming that the libertarian model, with a free exchange rate and an austere state, is irreversible.