President Javier Milei has scored a major breakthrough by ending Argentina's budget deficit for the first time in 123 years after a year in office.
Milei announced that the largest economic adjustment measure in history, along with cutting monetary spending to zero, has played a key role in the country's economic recovery.
By eliminating monetary spending that previously reached 13% of GDP in 2023 and contributed to annual inflation of over 200%, Milei managed to reduce monthly inflation to just 2.7% in October 2024, compared to 25.5% in December 2023.
This is a major breakthrough and the lowest rate in a decade!
This achievement is remarkable, especially compared to the annual inflation rate of 292.2% in April 2024, which was the highest since 1991 and almost reached the level of the hyperinflation crisis of the 1990s, and was successfully reduced to 166% in November 2024.
Measures such as selling government aircraft, halving official vehicles, and cutting luxury amenities have saved $3 billion a year.
Milei also showed firmness by firing Labor Minister Omar YasÃn in April for raising ministerial salaries while the country was suffering from an inflation crisis.
Milei's courage and determination have been praised by celebrities such as Elon Musk, who described her achievement as a global inspiration.
In just one year, Milei has led Argentina towards greater economic stability.
Although challenges remain, this achievement gives new hope to the Argentine people, who are now beginning to experience stability and a brighter future.
