Argentina Seals Budget Surplus For First Time In 14 Years

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Posted on 01/18/2025 3:59:50 PM PST by george76

Argentina has recorded its first budget surplus barely a year into Javier Milei’s presidency for the first time in 14 years. .

“Today’s fiscal result must be understood as a landmark in our history,” Economy Minister Luis Caputo posted on X. “There is no more deficit in Argentina.”

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According to the economy ministry, the country’s budget surplus for the entire year was 1.76 trillion pesos, or 0.3% of GDP. Meanwhile, there was a 10.41 trillion peso surplus, or 1.8% of GDP, in the primary fiscal balance, which does not include debt payments.

“Zero deficit is a reality,” Milei said on social media. “Promises are fulfilled.”

After assuming office in December 2023, Milei cut public spending in an attempt to curb raging inflation, which peaked at about 300% annually in April of last year.

The government’s fiscal anchor will continue to exist through 2025

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1 posted on 01/18/2025 3:59:50 PM PST by george76

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