La Derecha Diario Milei's Government Recorded a Financial Surplus of $600 Billion in January.
An important fact is that this fiscal surplus was achieved despite having eliminated taxes and tariffs.
The Minister of Economy, Luis "Toto" Caputo, announced that the Government of Javier Milei recorded a primary surplus of 2.4 trillion pesos in January and a financial one, considering the debt interest, of 600 billion pesos.
The head of the Ministry of Economy highlighted that the fiscal result of the public sector is "what truly matters to the people" and that this fiscal surplus was achieved "by having eliminated taxes and tariffs".
The Milei Government aims to maintain fiscal adjustment this year to ensure balance in public accounts.
In this context, if the economy grows by 5% as the Government and the International Monetary Fund (IMF) expect, the tax revenues derived from economic activity should also improve.
A first sign of relief in this regard could be seen in the reduction of export duty rates. The fiscal cost estimated by official offices is around USD 800 million, although some private projections raise it to more than USD 1 billion, depending on the pace of liquidations.
On his official X account, the Minister of Economy celebrated the financial surplus of January, in a context of tax and tariff reductions.
"Going to what truly matters to the people, in January we recorded a primary surplus of 2,434,865 million and a financial surplus of almost 600,000 million. This, having eliminated taxes and tariffs", Caputo reported.
In response to "Toto's" message, President Milei also expressed himself on the matter: "OUR ANCHOR IS UNTOUCHABLE Once again fiscal surplus on the financial line (that is, after paying interest)... LONG LIVE FREEDOM DAMN IT", he declared.
Meanwhile, according to a report by the consulting firm LCG, the surplus result of January is due to the fact that "January's revenue showed a significant recovery even when taxes associated with foreign trade moved downward due to the elimination of the País tax and the effect of a high annual comparison base left by the December 2023 devaluation".
"In total, the tax resources allocated to the Nation showed a 7.8% annual increase measured in real terms", LCG notes.
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