MercoPress. South Atlantic News Agency

Milei boasts his government's achievements in Madrid

“By 2026, inflation in Argentina will be a thing of the past,” Milei said in Madrid

President Javier Milei told the Madrid Economic Forum this weekend that his government had overreached his campaign goals with a “brutal adjustment” that eliminated the country's fiscal deficit, making Argentina one of five countries worldwide not in the red.

The Libertarian leader highlighted a 5-point economic adjustment achieved in one month and a 6% GDP increase, defying predictions of economic decline. He promised that by 2026, inflation would be eradicated, with May 2025 inflation expected to fall below 2%. Milei also celebrated lifting the foreign exchange rate cap, criticizing both its original implementers and “liberal libertarians” who doubted his policies.

“Our goals were very ambitious. They said it was impossible, and now, after a year and a half, we have surpassed all the campaign goals. They told us that it was impossible to make a five-point adjustment in one month, and we did it,” he said.

Speaking at an event hosted by cryptocurrency companies and attended by right-wing leaders, Milei received a standing ovation at the Palacio de Vistalegre, where 7,000 attendees cheered his anti-socialist rhetoric.

He also attacked the press, accusing them of spreading “filthy news” and downplaying his success in opening the exchange rate market. In addition, he outlined a plan to allow undeclared dollars for transactions, emphasizing a shift to presuming innocence.

The president also spoke about further tax reductions, claiming his government had already lowered taxes by 2% of GDP and could return over US$ 500 billion to Argentines if re-elected. He boasted Argentina’s lowest crime rates and high popularity levels.

Milei reiterated his disdain for socialism, targeting Spanish President Pedro Sánchez and aligning himself with the audience against the “fucking socialists.” He also mentioned meeting Venezuelan opposition leader Edmundo González Urrutia and referenced a light-hearted encounter with football coach Diego Simeone.

If La Libertad Avanza prevails in the October 2025 mid-term elections, Milei aims to further reduce country risk and continue his economic reforms.

Also this weekend, Milei met with Pope Leo XIV at the Vatican to discuss bilateral ties and issues such as poverty, social cohesion, and international conflicts with an emphasis on peace. Following the meeting, Spokesman Manuel Adorni announced that the US-born pontiff hoped to visit Argentina, possibly next year, as part of a tour that includes Peru and Uruguay.

Milei's encounter with the successor of the Argentine Francis came amid criticism from the South American country's Catholic Church regarding the government's policies, particularly on social and economic matters.