Argentina. The fruits of the chainsaw
About four months after assuming the presidency, Milei announced Argentina’s first budget surplus since 2008.
The Argentine President, Javier Milei, ran for office under the banner of reducing the deficit and combating inflation, which was rapidly escalating into a hyperinflation scenario. A mission of undeniable difficulty, by the way, as the country was heading, uncontrollably, towards the economic and social abyss. It’s not safe yet, but the signs are hopeful, even though last week opposition deputies approved a 170% salary increase. The President stated that “this is how the caste lives”, and the economy minister, Luis Caputo, denounced a “total level of disconnection with the people and the economic situation”.
About four months after assuming the presidency, Milei announced, on Tuesday, Argentina’s first budget surplus since 2008. The surplus for the first quarter of 2024 is 0.2% of GDP. From Casa Rosada came messages of hope: «Every peso that remains to the National State will be returned to Argentines through tax cuts». “We are making the impossible possible,” added the President. Argentines, adrift in recent decades, are beginning to see land.
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