Argentina's spending-slashing new President Javier Milei has hailed his country's first quarterly budget surplus since 2008 as an "historic achievement."This amounted to a surplus of 0.2 percent of GDP. "This is the first quarter with a financial surplus since 2008," said Milei, referring to his left-wing rival Cristina Kirchner's first year in the presidency.

:yea:

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    annual inflation stands at 290 percent year-on-year, poverty levels have reached 60 percent and wage-earners have lost a fifth of their purchasing power.

    and a near 500-percent increase in energy costs

    "At the rate at which they are funding us, we can only function between two and three more months," University of Buenos Aires (UBA) rector Ricardo Gelpi said.

    Turns out the economy isn't quite as simple as "If the state does not spend more than it collects and does not issue, there is no inflation. This is not magic,"