OAN Staff Abril Elfi
1:30 PM – Saturday, January 18, 2025
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.”
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, according to a statement from the economy ministry.
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