Argentina reported a primary fiscal surplus of 1.177 trillion pesos in February, ensuring its commitment to a zero deficit under President Javier Milei. This achievement marks the 13th surplus in 14 months of his presidency, despite public protests over spending cuts. The move aims to stabilize the economy amid rampant inflation.
Argentina has achieved another fiscal surplus, according to a recent government announcement. This achievement aligns with President Javier Milei’s promise of maintaining a zero deficit as he addresses the prevailing economic crisis and strives for a balanced budget. In February, the primary fiscal surplus amounted to 1.177 trillion Argentine pesos (approximately $1.10 billion), representing about 0.5% of the nation’s GDP, as reported by the economy ministry.
This marks the 13th monthly surplus within Milei’s 14 months of leadership. Additionally, the public sector reported a financial surplus of 310.73 billion pesos for February, equating to nearly 0.1% of GDP. Economy Minister Luis Caputo emphasized this outcome as a reinforcement of President Milei’s commitment to fiscal order, a crucial element of the economic strategy which aims to facilitate sustainable job creation and income growth over time.
Last year, Argentina recorded its first annual budget surplus in 14 years, indicating a significant shift in fiscal management. To realize these surpluses, Milei’s administration has implemented substantial cuts to public spending, which have included reductions in education and pension expenditures, leading to public protests. The government’s fiscal discipline seeks to mitigate rampant inflation while also aiming for long-term economic stability.
In conclusion, Argentina’s recent fiscal surplus highlights the government’s continued commitment to achieving a zero deficit under President Javier Milei’s leadership. The primary surplus of February reflects significant strides in fiscal policy that are essential for addressing the ongoing economic crisis, despite the challenges posed by public protests against spending cuts. This fiscal discipline is vital for fostering sustainable economic growth and improving employment prospects.
Original Source: www.tradingview.com
