Argentinian President Milei Presents Controversial 2025 Austerity Budget

Milei vows to eliminate fiscal deficit, setting stage for intense political battles in opposition-controlled Congress.

President Javier Milei personally presented the 2025 budget to Congress, emphasizing a zero-deficit policy backed by the IMF.
The budget proposal follows a week of clashes in the legislature, where Milei's party holds less than 15% of the seats.
Milei's austerity measures have led to a fiscal surplus but have also increased poverty rates, with nearly 60% of Argentines now living below the poverty line.
Key elements of the budget include cuts to public spending, removal of subsidies, and freezing of wages and pensions despite high inflation.
Milei faces significant opposition in Congress, which has already rejected his plans for increased intelligence spending and passed a bill to raise university funding, both of which he plans to veto.