Argentina's economy contracted by 1.7% in the second quarter of 2024, marking its third consecutive quarter of decline and deepening the recession initiated earlier this year. President Javier Milei's government has implemented stringent austerity measures aimed at reducing the budget deficit and controlling skyrocketing inflation, which remains above 250%. While the agricultural sector has seen substantial growth, other areas such as construction and manufacturing have suffered significant declines. The International Monetary Fund has adjusted its forecast, predicting a 3.5% contraction for the year. Despite the economic slump, there are indications that inflation is stabilizing, with monthly rates falling to around 4%, potentially improving consumer purchasing power. Analysts suggest that continued recovery may depend on attracting new capital to stimulate growth.