The primary fiscal surplus stood at 264.9 billion pesos ($299.0 million) in April, down from the 625.0 billion pesos seen in March, but marking the fourth straight month in positive territory after years of regular deficits.
The government of President Milei, a libertarian economist, also achieved a first-quarter primary fiscal surplus of 275 billion pesos, the first of its kind in 16 years.
The country’s financial surplus, a figure that includes interest payments, reached 17.4 billion pesos ($19.6 million) in April, a drop from the 276.6 billion pesos of March.
Milei took office in December, after riding a wave of voter frustration over an extended economic crisis that has hit Argentine wallets with a steadily growing inflation rate that currently stands at nearly 290%.
Milei says decades of government overspending is the main culprit for the country’s triple-digit inflation. He has pledged to achieve a budget balance this year and a primary surplus.
The president has pushed austerity, despite a steep cost to economic activity, and looked to curb liquidity in the market, a campaign that has been well received by investors and major backer, the International Monetary Fund (IMF).
($1 = 886.0000 Argentine pesos)
Source: Economy - investing.com
