Argentina Achieves First Budget Surplus in 123 Years Under President Milei

Argentina has achieved a historic milestone by eliminating its fiscal deficit for the first time in 123 years, a feat accomplished under President Javier Milei's administration.

Since taking office, President Milei has implemented stringent austerity measures, including significant budget cuts across various sectors such as public administration, healthcare, and education. The administration has curtailed the printing of new money, aiming to control hyperinflation and stabilize the national currency. Efforts to reduce corruption have been intensified, contributing to more efficient use of public funds.

Economic Indicators:

• Inflation Rate: Inflation has decreased from over 200% in 2023 to approximately 2.7% as of October 2024, indicating a significant stabilization of the economy.

• Budget Surplus: The national budget has shifted from a persistent deficit to a surplus, reflecting improved fiscal health.

Implications:

• Positive Outcomes: The elimination of the deficit and reduction in inflation have led to a more stable economic environment, potentially attracting foreign investment and fostering economic growth.

• Challenges: The austerity measures have resulted in budget cuts to essential services, which may impact public welfare and have been met with resistance from various sectors.

President Milei's administration has achieved a significant fiscal milestone by eliminating Argentina's long-standing budget deficit. While this accomplishment reflects improved fiscal discipline and economic stabilization, it also presents challenges that require careful management to ensure sustainable growth and public welfare.

Sources:

• Milei Ends Argentina’s Deficit After 123 Years

• Milei’s miracle: Argentina achieves historic BUDGET SURPLUS after 123 ...

• Javier Milei ends budget deficit in Argentina, first time in 123 years

• How President Javier Milei Ended 123-Year Budget Deficit

• 123 years later, it worked: the President of Argentina declared a ...

• Milei: Argentina Ends Deficit For The First Time In 123 Years

• Javier Milei Ends Budget Deficit In Argentina, First Time In 123 Years ...

• Argentina’s First Budget Surplus in 123 Years

• Javier Milei announces Argentina's first budget surplus in 123 years ...

• Argentina’s First Budget Surplus in 123 Years

• Argentina’s First Budget Surplus in 123 Years

• The spending cuts that allowed Milei to turn around the economy

• Shock therapy (economics)

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