Argentine government confidence falls over six points in July

Confidence in Argentina's government has declined again, with the Index of Government Confidence (ICG) dropping 6.5% in July. This marks a reversal of the modest rebound seen in June, which had briefly halted a six-month streak of consecutive decreases.

The index, compiled monthly by the Universidad Torcuato Di Tella (UTDT) in collaboration with the consulting firm Poliarquía, now stands at 1.94 on a scale of 0 to 5. This figure is lower than the 2.07 points recorded in June, when the index had seen a 3.9% monthly increase. The current level reflects a 3.9% decrease compared to the same point in President Javier Milei's mandate.

When compared to previous administrations, the current index is 73.3% higher than that of Alberto Fernández at the same stage of his presidency. However, it is 3.9% lower than that of Mauricio Macri during his equivalent period in office. Year-on-year, the ICG has decreased by 21.0%.

The July decline signals a return to the downward trend observed for most of 2026, with June being the only exception. Monthly variations for the ICG in 2026 included decreases in January (-2.8%), February (-0.6%), March (-3.5%), April (-12.1%), and May (-1.6%), followed by the June increase (+3.9%) and the July decrease (-6.5%). The cumulative contraction since the end of last year amounts to 21.5%.