Performance overview: Argentina
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Argentina gains two positions to 104th, driven mainly by innovation and sophistication factors, reflecting better preparedness to cope with a changing future environment. The quality of institutions improved mainly through better intellectual property protection and a more efficient legal framework. The quality of education and use of talent show signs of progress, as does the efficiency of goods markets. Argentina’s improvement in both ranking and score comes while a new administration implements broad reforms in an adverse external context: the recession in Brazil, Argentina’s main trading partner; low commodity prices; adjustments in utility tariffs; and high inflation have all made the transition toward a more market-oriented model difficult. Consumer sentiment remains weak but growth is expected to rebound, supported by competitiveness-improving reforms.