Economy Minister Luis Caputo highlighted the extraordinary reaction of the agricultural sector to tax reductions on exports and imports, projecting an additional $8.7 billion in export revenue.

Economy Minister Luis “Toto” Caputo confirmed that the agricultural sector is undergoing a period of robust growth and stated that it could generate a significant additional inflow of foreign currency this year. According to official estimates, the sector could contribute up to $8.7 billion extra in exports, a key factor for the country’s reserve accumulation strategy.

These statements come as the Central Bank of the Argentine Republic (BCRA) continues its goal of strengthening international reserves, aiming to reach $10 billion by 2026. Through a message on the social media platform X, Caputo focused on the immediate impact of the economic measures implemented by the administration of Javier Milei.

The Impact of Tax Reductions

“Few notice the extraordinary reaction of our agricultural producers to the tax cuts we have implemented on exports (retentions) and imports (tariffs on capital goods, herbicides, irrigation equipment, permits to import used machinery, etc.). Thus, investment has risen sharply, and production is pointing towards a record harvest this year,” the minister stated.

Caputo also questioned why the potential of the agricultural sector does not receive the same level of analysis as other economic activities like energy or mining, noting that the “countryside” is already showing concrete results due to current policies.

Projections for 2026

According to Ministry of Economy projections:

• Conservative Scenario: Agricultural exports would grow by $3.7 billion compared to last year.

• Favorable Scenario: With positive international prices and high production volume, external sales could reach nearly $42 billion, an increase of $8.7 billion over previous records.

These perspectives are vital for the Central Bank’s strategy, which led by Santiago Bausili, has maintained a buying streak of 53 consecutive sessions in the exchange market. Last Friday, the BCRA acquired $172 million—the highest daily amount recorded in March. So far in 2026, the organism has already accumulated over $3.7 billion in reserves.

The Milei government continues to emphasize the central role of the agricultural sector as a primary generator of foreign currency, underlining that tax reductions and deregulation are the main drivers of this record-breaking production potential.