Milei Presents 2025 Budget to Congress

Argentine President Javier Milei presented his 2025 budget to Congress, emphasizing his commitment to eliminating the chronic fiscal deficit despite controlling less than 15% of the legislature. In an unprecedented move, he personally delivered the budget, criticizing Argentina’s history of macroeconomic mismanagement and pledging to veto any measures that jeopardize his stringent fiscal policies. The proposal has sparked significant political confrontations, as opposition parties push for salary and pension increases to help Argentines suffering under austerity measures. Despite achieving a primary surplus of 1.4% of GDP through drastic cuts, Milei faces intense scrutiny and protests over his administration's austerity measures. His budget aims for a surplus equivalent to 1.3% of GDP in 2025, with ambitious growth and inflation targets, but its success heavily relies on Congressional support, which remains uncertain. Milei's determination to continue with fiscal discipline sets the stage for ongoing negotiations with political rivals.