Live Updates > Live Update Details
2025-12-12 04:16:28
[Argentine Government Releases Mid-Term Report Card] On the 10th, Argentine Cabinet Chief Manuel Adorni released a report on the second anniversary of his government's administration. He stated that two years ago, President Millais established three major goals: eliminating the fiscal deficit and inflation, ensuring public order, and reducing public spending. Argentina has now achieved a fiscal surplus for two consecutive years. The monthly inflation rate has dropped from 25.5% in December 2023 to 1.6% in June of this year, and the poverty rate has decreased from 52.9% to 31.6%. Regarding public order and security, the number of homicides nationwide has fallen to its lowest level in 25 years. As of October this year, government public spending has actually decreased by 27.7% compared to 2023. During this process, the Millais government closed eight ministries, eliminated nearly 100 secretariats and deputy secretariats, and abolished more than 200 agencies with overlapping or outdated functions, reducing the number of government employees by approximately 60,000. Furthermore, the Millais government continues to promote tax cuts to stimulate economic growth, lowers the withholding tax rate on agricultural exports, and will eliminate tariffs on mobile phones and other electronic products starting next January.
