S&P Global Ratings raised its long-term sovereign credit ratings of Argentina to ‘B+’ from ‘B’ as “the outlook on the long-term ratings is stable”. This action reflects greater confidence about the government’s political capacity to continue pursuing its economic agenda, resulting in more predictable economic policy and governance. In this context, S&P expects moderate but sustained economic growth in the next 3 years and lower potential volatility.

After its electoral gains, the government is aiming to eliminate distortions and promote investment while reducing tax pressure (Corporate taxes should be lowered from 35% to 25% within 5 years).

However, public-led infrastructure investment will continue to play a decisive role in driving growth. The Government, inter alia, foresees the construction of 7,000 km of roads. The total amount of the combined projects is estimated to $26 Billion and will be invested over 5 years.