Argentina’s President Milei Marks First Year with Economic Gains and Controversy

Javier Milei has curbed inflation and reduced the fiscal deficit, but his austerity measures have sparked social and political challenges.

President Javier Milei has significantly reduced Argentina's inflation rate, from an annualized 3,700% before his inauguration to 107%, with further declines expected.
Milei’s austerity measures, including cutting 33,000 public sector jobs and halving government ministries, have achieved a budget surplus for the first time in nearly 12 years.
While the economy shows signs of recovery, poverty initially rose to 53% under his policies but has since fallen below 50%, with further reductions anticipated as growth stabilizes.
Milei has aligned Argentina with right-wing global leaders, including U.S. President-elect Donald Trump, while distancing the country from leftist regimes in Venezuela, Cuba, and Nicaragua.
Critics highlight concerns over Milei’s combative rhetoric, mass protests against his policies, and his alignment with controversial figures, though his approval rating remains at 43%.