President Javier Milei of Argentina announced on Monday night (22) 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, Milei revealed that the national public sector had a financial surplus of more than 275 billion pesos (R$ 1.6 billion) in March, resulting in a financial surplus for the first quarter of the year.
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. Despite a high inflation rate of 287.9% over 12 months, the monthly variation in inflation compared to February was only 11%, marking the third consecutive month of a slowdown. President Milei acknowledged the challenges his government faced upon taking office and praised the efforts of the majority of Argentines who have made sacrifices for the country’s economic stability.
Milei emphasized that ending the fiscal deficit in a sustainable and morally acceptable manner was achievable, and attributed the gradual decrease in inflation to the measures taken by his administration. He expressed gratitude to the Argentine population for their resilience and acknowledged their role in securing a better future for
