Milei's Argentina achieves first financial surplus in 12 years

Argentina recorded a financial surplus of 518,408 million Argentine pesos (576 million euros) in January, the country's first positive financial result since August 2012 and for the month of January since 2011, according to data from the Ministry of Economy. In the first month of the year, Argentina recorded a primary surplus of 2,010 billion Argentine pesos (€2,234 million), while total revenues reached 6,100 billion (€6,830 million), up 256.7% year-on-year.

These results, analysts claim, are linked to the strong cuts in public spending that the ultra-liberal president Javier Milei has implemented since taking office on 10 December, with a shock fiscal plan that yesterday took the form of the elimination by decree of public trust funds. The January fiscal result was celebrated on social media by the head of state with the slogan 'Zero deficit is not negotiable', even theeconomy minister, Luis Caputo, had written on his account after announcing the country's first financial surplus in 12 years.