Milei Slashes Argentina Inflation to 34% as GDP Rebounds 4.4%

2 articles · Updated · Fox Business · May 31

Argentina’s annual inflation slowed to 34% in April, down from 211% when Javier Milei took office in December 2023, while exports climbed to nearly $9 billion.
GDP grew 4.4% in 2025 after a 2.3% contraction in late 2023, underscoring a turnaround that contradicted warnings from 108 economists that Milei’s agenda could bring “devastation.”
Milei drove the shift with fiscal shock therapy—cutting subsidies, shrinking ministries and curbing deficit financing—while reopening capital markets and resetting the exchange-rate regime.
$20 billion in U.S. Treasury currency swaps helped stabilize the peso and draw record capital inflows of $18.8 billion in the last quarter of 2025.
Energy has become a key support: oil output rose 32% to 882,200 barrels a day this year, and 2025 natural-gas production increased 11% from 2023.

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