President Milei Celebrates Argentina’s Financial Surplus: A Significant Step Towards Ending Inflationary Crisis

In his third message on national radio and television since assuming the presidency in December, President Javier Milei of Argentina announced on Monday night that the country had achieved a financial surplus of 0.2% of Gross Domestic Product (GDP) in the first quarter – calling it “a feat of historic proportions at a global level”. Despite predictions from various sources, President Milei revealed that the national public sector had a financial surplus of more than 275 billion pesos (R$ 1.6 billion) in March.

Milei emphasized that this path is crucial to ending the inflationary crisis that has persisted in Argentina since the fall of convertibility in the early 2000s. He attributed the gradual decrease in inflation to the measures taken by his administration, which he expressed gratitude for the resilience and sacrifices made by Argentines to secure a better future for their children. Despite high inflation rate in Argentina of 287.9% over 12 months, Milei acknowledged that it was third consecutive month of slowdown and praised majority of Argentines who made sacrifices for their country’s economic stability.