Argentina sees first monthly budget surplus in 12 years

BUENOS AIRES - The Argentine government in January saw its first monthly budget surplus in nearly 12 years, as new President Javier Milei continues to push for strong spending cuts, the Economy Ministry announced.

January was the first full month in office for Mr Milei, a far-right libertarian who took office in December, and it ended with a positive balance for public-sector finances of US$589 million (S$800 million) at the official exchange rate, the government said late on Feb 16.

The figure includes payment of interest on the public debt.

It is “the first (monthly) financial surplus since August 2012, and the first surplus for a January since 2011,” the Economy Ministry said, according to the official Telam news agency.