Poverty and inflation are falling in Milei’s Argentina

It was a good year for Argentina and its president, Javier Milei. In 2024, Argentina saw impressive economic progress as Milei slashed bureaucracy, eliminated regulations, closed superfluous departments, reduced the federal workforce, and instituted various monetary reforms.

The results of the policies were impressive: monthly inflation, which peaked after Milei assumed office, fell from 25.5% to 2.4%; Argentina’s economic recession ended; and the government saw its first budget surplus in 14 years.