Argentina Achieves First Quarterly Budget Surplus Since 2008, Milei Cites Economic Reforms

President Javier Milei's administration marks a historic financial milestone with a surplus of 275 billion pesos, attributing the success to stringent austerity measures and economic 'shock therapy'.

• President Javier Milei announced Argentina's first quarterly budget surplus in 16 years, totaling 275 billion pesos.
• The surplus is a result of drastic cuts in government spending and economic reforms aimed at tackling the nation's severe inflation.
• Milei emphasized that the fiscal surplus is essential for ending Argentina's 'inflationary hell' and promised continued austerity.
• The economic measures include significant tax cuts, reduction of public sector expenses, and halting public works.
• Despite the surplus, analysts express concerns about the sustainability of these measures and their long-term impact on public services and investment.

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