🇦🇷 MONEY, MONEY, MONEY UNDER MILEI: 11TH STRAIGHT SURPLUS
Argentina posted a $888M trade surplus in October 2024, rebounding from a $442M deficit last year.
Exports soared 30%, fueled by agriculture and manufacturing, while imports grew 4.9%.
Many credit @JMilei’s libertarian… pic.twitter.com/JdTcoVbmdO
— Mario Nawfal (@MarioNawfal) November 20, 2024
Argentina reported a remarkable $888 million trade surplus in October 2024, a sharp recovery from a $442 million deficit the previous year. Exports surged by 30%, led by agriculture and manufacturing, while imports rose modestly by 4.9%.
This economic turnaround is widely attributed to President Javier Milei’s libertarian policies, which include cutting government spending and eliminating bureaucratic barriers, creating a more favorable business environment.
Inflation, which stood at a staggering 25.5% when Milei took office in December 2023, has steadily declined since. Monthly inflation rates are now as follows:
- January: 20.6%
- February: 13.9%
- March: 11%
- April: 8.8%
- May: 4.2%
- June: 4.6%
- July: 4%
- August: 4.2%
- September: 3.5%
- October: 2.7%
This consistent decline reflects the effectiveness of Milei’s reforms in stabilizing the country’s economy.