Story perspectives

Argentina's Milei Cuts Spending, Inflation Drops but Poverty Rises

1/4/2025

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Summary

Story summary

Javier Milei, elected president of Argentina in 2023, enacted sweeping economic reforms, reducing government spending by one-third and removing rent controls.
Inflation fell from nearly 300% to around 100%, and the fiscal deficit was eliminated for the first time in 123 years.
Despite these improvements, poverty rose to 53%, with many affected by austerity measures.
Milei maintains a strong 56% approval rating while facing a complex political environment.

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Story summary

Javier Milei, elected president of Argentina in 2023, enacted sweeping economic reforms, reducing government spending by one-third and removing rent controls.
Inflation fell from nearly 300% to around 100%, and the fiscal deficit was eliminated for the first time in 123 years.
Despite these improvements, poverty rose to 53%, with many affected by austerity measures.
Milei maintains a strong 56% approval rating while facing a complex political environment.