Argentina's Milei presents budget, warns zero deficit is a must

The National Times - Argentina's Milei presents budget, warns zero deficit is a must

Argentina's Milei presents budget, warns zero deficit is a must / Photo: © AFP

Argentine President Javier Milei presented his 2025 budget to congress Sunday, with the libertarian promising to veto any law that threatened his strict goal to reduce the country's budget deficit to zero.

Change text size:

"We will veto all the bills that threaten the fiscal balance, because we will not be accomplices in swindling the Argentine people," he said.

Since taking office in December, the budget-slashing Milei has applied a drastic austerity program in a bid to rein in chronic inflation and decades of government overspending.

Congress was half empty, with a number of opposition members skipping what they called a "staged" event.

Milei's party is in a minority in the legislature and divided.

While the president has faced setbacks in some of his budgetary policies, he notched a victory last week when lawmakers upheld his veto of a bill to increase pensions.

Under Milei's reforms, inflation for August stood at 4.2 percent, the fourth consecutive month under five percent and a massive drop from the 25.5 percent recorded in December.

Year-on-year inflation however was still sky-high at 236.7 percent.

Critics say the steep drop in inflation and other apparent economic wins have come at the cost of the poor and working classes, and due to a strangling of the economy.

F.Jackson--TNT

ANC’s Renewal Rhetoric Fades as Voters Reject Party in 2026 Local Elections

After nearly twenty years of official pledges to reverse internal decay and restore public trust, the African National Congress (ANC) faces a stark reality check following the 2026 local government elections. The results indicate that South African voters no longer believe in the party's capacity for renewal, marking a significant shift from the era when the ANC maintained overwhelming electoral support despite early warnings of structural crisis.

Cuban Diplomat Warns U.S. Blockade Is Severing People-to-People Ties

Cuban diplomat Gabriela Castillo warns that escalating U.S. sanctions are severing vital human connections between the two nations, particularly affecting academic exchanges and longstanding solidarity with African American communities. She argues that political coercion is inflicting collective punishment on Cuban civilians while erasing opportunities for mutual understanding.

Home Affairs Deploys AI to Clear Asylum Backlog Amid Staffing Crisis

The South African Department of Home Affairs has launched a new digital platform utilizing artificial intelligence and biometric technology to overhaul the country’s asylum process. The initiative aims to resolve a severe operational bottleneck, as only nine officials were managing thousands of outstanding appeals at the start of the current administration. Officials warn that registering an intention to apply does not grant automatic protection against immigration enforcement.

Ian Borg Honoured by Palestinian and Arab League Ambassadors for Palestine Support

Deputy Prime Minister Ian Borg has been presented with a commemorative plaque by the ambassadors of Palestine and the Arab League to Malta. The honour recognizes his support for Arab causes during his tenure as Foreign Minister, particularly regarding Malta’s formal recognition of the State of Palestine.