Economy Argentina has a budget surplus, first time in 12 years

[Richmma80]

And this is only the first month of mileis presidency

 

[Chad R. Thundercock]

Heyoooo

Viva la libertad, carajoooo

 

[Mr. Shickadance]

And this is only the first month of mileis presidency

So the government took in more money than it spent, while extreme poverty went from 9.8% to 15% , and poverty went from 44.7% to 57.4%.
But I’m sure the people are glad that the government is in the black now.

 

[wlu.29]

Budget surplus for the upcoming year planned spending? Or surplus from the year that already happened? If it's from the year that already happened, he can't be credited.

 

[Sweater of AV]

The first month of his presidency has definitely been quite a ride.

https://www.reuters.com/world/americas/poverty-argentina-hits-20-year-high-574-study-says-2024-02-18/

BUENOS AIRES, Feb 18 (Reuters) - Poverty levels in Argentina hit 57.4% in January, the highest in at least 20 years, according to a report by the Catholic University of Argentina (UCA) cited by local media on Sunday.

According to the report, the devaluation of the peso currency carried out by President Javier Milei shortly after his inauguration in early December - and the price hikes caused by it - exacerbated poverty levels, which closed the year at 49.5%.

 

[cottagecheesefan]

Afuera !!!

 

[MicroBrew]

Argentina’s poverty levels hit 57% of population, a 20-year high in January, study finds​

BUENOS AIRES, Argentina (AP) — Poverty levels skyrocketed to 57.4% of Argentina’s 46 million people in January, the highest rate in 20 years, according to a study by the Catholic University of Argentina.

Argentina's poverty levels hit 57% of population, a 20-year high in January, study finds

A study has found more than 57% of Argentina's people are considered poor, the worst poverty level in 20 years.

apnews.com

 

[panamaican]

So the government took in more money than it spent, while extreme poverty went from 9.8% to 15% , and poverty went from 44.7% to 57.4%.
But I’m sure the people are glad that the government is in the black now.

It's certainly an easier way to get there rather than creating a more prosperous society.

To play devil's advocate for a moment. If they don't have any money then they can't afford the type of social programs that most developed nations should provide. And we should probably make sure to categorize them appropriately as on par with other dirt poor countries.

 

[Richmma80]

Dont we have an argentinian poster here? I wanna hear his take.

 

[SKYNET]

Republicans and Democrats told me Libertarians are not electable

I'm sure the conservative and liberal controlled mainstream media outlets will inform me of the truth and not try to hide or censor or spin any positive news coming out of Argentina

 

[jk7707]

Yay?


"The cost of medicine has soared over 300 percent year-on-year.

While the government decreed a 30 percent salary increase by March, this is far less than the 85 percent demanded by labor unions -- and the walk-outs are mounting.

On Wednesday, train drivers downed tools, and on Thursday healthcare workers across the public and private sector went on strike, with only hospital emergency rooms expected to function.

Teachers have called a strike for the start of school next week, and the country's main CGT union is debating another general nationwide walkout."

 

[Prutfis]

Republicans and Democrats told me Libertarians are not electable

I'm sure the conservative and liberal controlled mainstream media outlets will inform me of the truth and not try to hide or censor or spin any positive news coming out of Argentina

With a 6 percent rise in extreme poverty and a 13 percent rise in poverty overall it would be nice with some context.
Just cutting shit to create a surplus on the government finances is a bit vague.

 

[SKYNET]

With a 6 percent rise in extreme poverty and a 13 percent rise in poverty overall it would be nice with some context.
Just cutting shit to create a surplus on the government finances is a bit vague.

I'm sure the conservative and liberal controlled mainstream media outlets will inform me of the truth and not try to hide or censor or spin any positive news coming out of Argentina

 

[Scheme]

With a 6 percent rise in extreme poverty and a 13 percent rise in poverty overall it would be nice with some context.
Just cutting shit to create a surplus on the government finances is a bit vague.

He'd been in power for a month at that point. When your country has a 254% inflation rate YOY, it tends to make people poorer.

Argentina Inflation Rate

Inflation Rate in Argentina increased to 276.20 percent in February from 254.20 percent in January of 2024. This page provides the latest reported value for - Argentina Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic...

tradingeconomics.com

You can see exponential increases in inflation as of recently. Milei's measures are absolutely necessary.

 

[Rholk]

Getting a surplus by just not spending anything isn't much of an achievement imo.

I mean, we'll see what his radical policies bring long term, but claiming this as some kind of win is a bit simple

 

[Staph infection]

It is a joke that Americans are in here shitting on this guy when their country is falling apart just as fast.

 

[Mr. Shickadance]

It's certainly an easier way to get there rather than creating a more prosperous society.

To play devil's advocate for a moment. If they don't have any money then they can't afford the type of social programs that most developed nations should provide. And we should probably make sure to categorize them appropriately as on par with other dirt poor countries.

This is true, it will be interesting to see what he does with the surplus, and how he got it. If it’s just from cutting programs that help the less fortunate than, it really isn’t something to brag about . If he chooses to invest it back into the country.

 

[MicroBrew]

It is a joke that Americans are in here shitting on this guy when their country is falling apart just as fast.

We are not remotely like Argentina.

 

[Scheme]

Argentina’s poverty levels hit 57% of population, a 20-year high in January, study finds​

BUENOS AIRES, Argentina (AP) — Poverty levels skyrocketed to 57.4% of Argentina’s 46 million people in January, the highest rate in 20 years, according to a study by the Catholic University of Argentina.

Argentina's poverty levels hit 57% of population, a 20-year high in January, study finds

A study has found more than 57% of Argentina's people are considered poor, the worst poverty level in 20 years.

apnews.com

I'd like to understand how they calculate poverty levels with hyperinflation. Do they constantly adjust the poverty line for inflation? And if so, do they do the same adjustments to wages? Are people getting raises every single month to compensate for 20% inflation each and every month? It could be more of an artifact of hyperinflation rather than a true picture of actual poverty in the country. Especially since the inflation rate has exponentially increased in the past few months in Argentina.

 

[fedoriswar37]

There will be pain. You can't combat massive levels of government overspending without there being pain.

Or you just continue to print money in hopes that the damn breaks on the next generation while you're dead.