Milei announces a financial surplus of 0.2% during the first quarter of 2024 after reducing "the size of the State"

The Argentine president assures that this is the "starting point" to end inflation

MADRID, 23 Abr. (EUROPA PRESS) -

The president of Argentina, Javier Milei, announced this Monday a financial surplus of 0.2 percent during the first quarter of 2024, the first time that Argentina has recorded it since 2008, after applying a series of policies aimed at "reducing the size of the State" and that it is the "starting point" to end inflation.

"Contrary to the forecasts of the majority of political leaders, professional economists, television and tribune firecrackers, specialized journalists and a good part of the Argentine establishment, I want to announce that the national public sector registered a financial surplus during March of more than of 275,000 million pesos (about 300 million euros), achieving in this way and after more than 20 years a financial surplus of 0.2 percent of GDP during the first quarter of the year," he assured during a speech, although a A statement from the Ministry of Economy has pointed out that it has been registered for the first time since 2008.

After that, he highlighted that this is the "starting point" to end inflation and the "worst crisis in the history" of Argentina, according to the Argentine newspaper 'Clarín'.

"First of all, I want to tell all Argentines that I understand that the situation we are experiencing is hard, but also that we have already gone more than halfway," added Milei, who asserted that these data show that the plan "it is working" and that the Government "was right."

Likewise, he has reported that the size of the State has been "reduced" after closing "organisms that were used to persecute those who think differently", after eliminating "the guidelines for the media" of communication - it is also worth remembering the closure of the public news agency Télam-- and after transferring most of the public works to the private sector.

"Do not wait for public spending to emerge, the era of the supposed present State has ended. It has been a resounding failure that has plunged 60 percent of the population into poverty (...). Politicians want to spend a lot because they are the main beneficiaries of that expense. With us it is over," Milei assured.

In that sense, he has boasted that "inflation is collapsing" after having three consecutive months of rates lower than the previous month, although inflation in the month of March was 11 percent, accumulating a rate of 51.6 percent. in the first trimester.

"Unlike what many claim, it has not only been possible to end the fiscal deficit, but we have done so in an economically sustainable and morally desirable way, since for the first time in Argentina they do not pay justly for sinners," he added. .

Finally, he recalled that these data have been achieved thanks to the "heroic effort of the majority of Argentines who are suffering" in the face of the "only possible path" towards "a better future."