Argentina achieved a primary fiscal surplus of 1.177 trillion pesos in February, marking the 13th monthly surplus under President Javier Milei. The state also secured a public sector financial surplus of 310.73 billion pesos. These developments underline the government’s commitment to fiscal order amid significant public spending cuts, particularly affecting education and pensions.
In February, Argentina reported a primary fiscal surplus and a public sector financial surplus, aligning with President Javier Milei’s commitment to achieving a “zero deficit.” This initiative aims to address the ongoing economic crisis and restore budgetary balance. The primary surplus reached 1.177 trillion Argentine pesos (approximately $1.10 billion), representing about 0.5% of the country’s GDP, according to the economy ministry.
The reported surplus signifies the 13th consecutive month of positive fiscal results during President Milei’s tenure, which spans 14 months. Additionally, the public sector recorded a financial surplus of 310.73 billion pesos, equivalent to roughly 0.1% of GDP. Economy Minister Luis Caputo emphasized the administration’s dedication to achieving fiscal order, essential for sustaining a strong economy that boosts quality employment and supports wage recovery over time.
Last year marked a significant achievement for Argentina, as it recorded its first annual budget surplus in 14 years. To control rampant inflation, President Milei’s government has implemented substantial cuts in public spending, impacting sectors such as education and pension payouts, which have prompted widespread protests from the public.
In summary, Argentina’s continued fiscal surplus under President Javier Milei demonstrates a commitment to reducing the budget deficit and combating inflation. The government’s aggressive cuts to public spending, while controversial, reflect a strategic approach to economic recovery. The positive fiscal indicators, including consecutive monthly surpluses, highlight the administration’s pursuit of fiscal order as a fundamental principle of its economic program.
Original Source: www.tradingview.com
