Argentina’s Milei secures first monthly budget surplus in 12 years

Argentine government reveals a monthly budget surplus after over a decade of inactivity, indicating progress in economic recovery

In the first significant indication that President Javier Milei’s administration is making progress toward improving the country’s economic position, the Argentine government has unveiled a monthly budget surplus, which comes after over a decade of inactivity.

Since he took office in December, Milei has had the ability to reduce expenditure and restructure the economy, both of which are represented in the balance of $589 million for January. It is noteworthy that Milei’s discussions with the International Monetary Fund (IMF) over a loan of $44 billion coincide with this financial success, which highlights his commitment to achieving a deficit-free budget.

Despite the fact that the nation is experiencing high inflation and widespread poverty, the administration is still hopeful about the likelihood of the economy recovering. They attribute this fiscal success to Milei’s unwavering dedication to the implementation of financial reform and discipline.

Source: AFP