The figures were released by Argentina's Economy Minister, Luis Caputo, who welcomed this historic figure, which was one of the Liberal leader's electoral promises.

Argentina recorded a primary surplus of 1.8% of Gross Domestic Product (GDP) and a financial surplus of 0.3% of GDP in 2024, the first time this result has been achieved in the country after 14 years of deficit, and the highest surplus figure in 16 years.

The South American country has achieved this annual result despite recording a primary deficit of more than 1.3 trillion Argentine pesos (more than US$ 1,247 million euros) and a financial deficit of 1.5 trillion pesos (approximately US$ 1,440 million) in the last month of 2024.

The figures were released on Friday by Argentina's Economy Minister, Luis Caputo, who welcomed this historic figure that coincides with Milei's first year in office. This was one of the liberal president's electoral promises.

The negative figure for December is due to the high seasonality of primary spending. Adjusted for inflation, the deficit in December was reduced by 70% compared to December of the previous year.

"The fiscal result published today must be understood as a milestone in our history. It is the result of extraordinary leadership by our president, combined with a stabilization program that has surprised the world, and teamwork by all the ministers and secretaries of this government, who understood the importance of fiscal austerity as the main tool to recover macroeconomic stability and social peace," Caputo stressed.