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Argentine President Javier Milei declared a fiscal victory in his government’s fight against inflation and economic turmoil on Monday. In
Argentina’s President Javier Milei in a televised address from the presidential palace in Buenos Aires, announced the country’s first quarterly fiscal surplus since 2008, Bloomberg News reported. While economic challenges continue, Milei said that he would continue to maintain fiscal discipline, saying that the surplus marks a crucial moment in Argentina's pursuit of prosperity.
(Bloomberg) -- President Javier Milei announced Argentina’s first quarterly fiscal surplus since 2008 during a televised speech, promising his commitment to eliminating deficits wouldn’t waver throughout his term.Most Read from BloombergTrump Has Only $6.8 Million for Legal Fees With Trial UnderwayRay Dalio’s Famous Trade Is Sputtering and Investors Are BailingStocks Climb as US Earnings Kick Into High Gear: Markets WrapRussians Transform Dubai as They Flee Putin’s War: Photo EssaySea Billionair
Argentina achieved its rare surplus by slashing three quarters of transfers to provincial governments and halting nearly 90% of public works, Milei said. The government also kept costs low by allowing nearly 300% annual inflation to erode real public spending on wages and pensions.
Javier Milei warns Argentines they will have to endure months of pain while he works to pull country from economic crisis. Read more