Argentina Achieves Historic Financial Surplus in First Quarter Despite High Inflation Rate: President Milei’s Address

President Javier Milei of Argentina made an announcement on Monday night (22) that the country had achieved a financial surplus of 0.2% of Gross Domestic Product (GDP) in the first quarter – a feat he called “historic” at a global level. In his third message since assuming the presidency in December, Milei shared the results of his government’s accounts, which showed that the national public sector had a financial surplus of more than 275 billion pesos (R$ 1.6 billion) in March.

Despite predictions from various sources, Milei revealed that Argentina had achieved a financial surplus in the first quarter, thanks to the efforts of the majority of Argentines who made sacrifices for the country’s economic stability. Despite the high inflation rate of 287.9% over 12 months, the monthly variation in inflation compared to February was only 11%, marking three consecutive months of a slowdown.

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 their children.