Argentina has applied a drastic, all-out fiscal austerity program, with the aim of achieving 'zero budget deficit' by the end of 2024 to tame chronic inflation.
Argentina has applied a drastic, all-out fiscal austerity program, with the aim of achieving "zero budget deficit" by the end of 2024 to tame chronic inflation.Politically, Friday's green light means "a total success for the government", political scientist and economist Pablo Tigani said. / Photo: AFP
"We are going to give President Milei's government the tools to reform the state once and for all," ruling bloc head Gabriel Bornoroni said in his closing speech on Friday. But budget cuts, including the paralysis of public works, coupled with a brutal devaluation of the peso by more than half in December, have strangled purchasing power.
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