Argentine President Milei Highlights Economic Reforms and Plans for Deeper Budget Cuts

In his second State of the Nation address, Javier Milei touted reduced inflation, a budget surplus, and pledged further austerity measures.

Javier Milei's reforms have reduced inflation from 211% in 2023 to 84% and achieved Argentina’s first budget surplus in 14 years in 2024.
The president plans to deepen spending cuts, symbolized by his trademark 'chainsaw' approach, as part of his long-term economic strategy.
Milei expressed readiness to exit the Mercosur trade bloc to pursue a potential free trade agreement with the United States.
He intends to overhaul Argentina’s tax system by eliminating 90% of national taxes and reforming labor laws deemed outdated.
Milei aims to strengthen his parliamentary support in October’s legislative elections to advance his ambitious reform agenda.