Argentina’s Milei shuts up critics with miracle turnaround of economy, strong security policies

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“President Javier Milei of Argentina continues to stun his critics with an economy that has outperformed expectations and continues along an ambitious path for national security, including pursuit of a NATO global partnership.

“The fact that you have a president, head of state, who is defending the free market, who is defending the role of entrepreneurs and businessmen as creators of value and just defending deregulation when the tendency in Latin America and much of the West has been to regulate the economy . . . I think that’s very positive, not only for Argentina, but for the region as a whole and maybe beyond,” Daniel Raisbeck, a policy analyst at the CATO Institute, told Fox News Digital.”

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Argentina’s inflation in March alone hit 287%, causing poverty to deepen, and citizens to take to the streets with strikes and protests against his policies. The monthly inflation rate was 25% in December when Milei first took office.

Milei then went on to significantly reduce spending with major cuts to public-sector wages as he suspended public works projects and cut subsidies. He also devalued the country’s currency by over 50%, which helped it stabilize in value even as the price of basic goods jumped.

The monthly inflation dropped to 8.8% by April, marking the first single-digit inflation rate in over six months.

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Argentina recorded a $589 million budget surplus in January and continued to post a surplus for each of the first four months of 2024, even as the surplus shrank to $299 million in April, Reuters reported. This marks the country’s first quarterly surplus since 2008.”



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