Argentine President Javier Milei has announced the government’s first budget surplus in 16 years.
During a meeting with senior government officials on Tuesday, Milei celebrated his financial surplus of 275 million pesos in the first quarter since he took office.
Milei notably campaigned on slashing government spending to tame the nation’s 160% inflation rate.
He said this is what caused 60% of Argentina’s citizens to fall into poverty.
Milei also promised to deliver massive tax cuts during his administration.
“To us, inflation is a robbery and the fiscal deficit is the cause of inflation,” Milei said. “Therefore, the zero deficit is not only a marketing slogan to this government but an order. This means each extra peso, far from increasing public expenditure, the national state will give it back to Argentines through tax cuts. Therefore, don’t expect any public spending. The era of an alleged present state is over.”
