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Javier Milei delivers Argentina's first quarterly budget surplus in 16 years
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President Javier Milei has proudly announced in a televised address Argentina's first quarterly fiscal surplus since 2008.
The surplus, exceeding 275 billion pesos in March, marks a significant achievement for the libertarian leader's "shock therapy" approach in battling the country's triple digit inflation.
The surplus represents 0.2 per cent of the nation's GDP for the quarter.
"We're going to give everything to pull this country out of the hell we inherited," Milei said during an address on Monday.
Milei warned of the tough economic challenges ahead for the Argentine people.
"To us, inflation is a robbery and the fiscal deficit is the cause of inflation. Therefore, the zero deficit is not only a marketing slogan to this government but an order," he said.
"Therefore, don’t expect any public spending."
He also praised their resilience as the government aims to achieve a zero deficit.
"There isn’t any other alternative than surrendering to the feet of a people who decided to abandon slavery and take a long way through the desert to the promised land."
The surplus, exceeding 275 billion pesos in March, marks a significant achievement for the libertarian leader's "shock therapy" approach in battling the country's triple digit inflation.
The surplus represents 0.2 per cent of the nation's GDP for the quarter.
"We're going to give everything to pull this country out of the hell we inherited," Milei said during an address on Monday.
Milei warned of the tough economic challenges ahead for the Argentine people.
"To us, inflation is a robbery and the fiscal deficit is the cause of inflation. Therefore, the zero deficit is not only a marketing slogan to this government but an order," he said.
"Therefore, don’t expect any public spending."
He also praised their resilience as the government aims to achieve a zero deficit.
"There isn’t any other alternative than surrendering to the feet of a people who decided to abandon slavery and take a long way through the desert to the promised land."
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