TIPSHEET
Argentina's Javier Milei Ends Deficit for the First Time In 123 Years
Sarah Arnold | December 11, 2024 7:30 PM
Argentina's fiscal deficit has been a persistent challenge for its economy, driven by structural inefficiencies, spending, and limited revenue generation. As a result, the government must borrow or print money to finance the gap, fueling sky-high inflation and undermining its economic stability. However, for the first time in 123 years, President Javier Milei ended the country’s deficit in just one year of his presidency.
When Milei took office on December 10, 2023, he promised to take a “chainsaw” to the nation’s economy— and that he did.
“The deficit was the root of all our evils—without it, there’s no debt, no emission, no inflation,” Milei said. “This historic achievement came from the greatest adjustment in history and reducing monetary emission to zero. A year ago, a degenerate printed 13 percent of GDP to win an election, fueling inflation. Today, monetary emission is a thing of the past.”
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READ MORE: https://townhall.com/tipsheet/saraharnold/2024/12/11/argentinas-javier-milei-ends-deficit-for-the-first-time-in-123-years-n2648911
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