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Milei’s Economic ‘Shock Therapy’ Pays Off, With Argentina Seeing First Budget Surplus in More Than a Decade.

The nearly $600 million monthly surplus is the first to occur since August 2012, and the monthly inflation rate even fell in January to 20.6 percent from 25.5 percent. “The zero deficit is not negotiable,” the Economy Minister, Luis Caputo, says on X.

On February 2, the chamber of deputies passed a framework agreement for Mr. Milei’s reforms aimed at privatizing state companies, deregulating the economy, and making changes to the nation’s criminal and environmental laws. The legislature is still debating the fine text of the package, but if it passes, it would mark a significant victory for Mr. Milei’s libertarian theory of governance.

“They understood the historical context and chose to end the privileges of the caste and the corporate republic, in favor of the people, who have been impoverished and are hungry,” Mr. Milei said after the lower chamber passed the preliminary motion on his reform package.

 

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h/t Stephen Green

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