Milei touts economic gains in Madrid while critics point to omitted hardships

At the Nueva Economía Forum in Madrid, President Javier Milei delivered a presentation emphasizing Argentina's macroeconomic turnaround since his inauguration in December 2023. He cited falling inflation from over 200% to the low-30s percent range, a fiscal surplus achieved through sharp public-spending cuts, and a decline in the debt-to-GDP ratio to around 39%. Milei also claimed a substantial reduction in poverty rates.

However, the speech ignored several adverse indicators, including an increase in unemployment, the shutdown of numerous firms, worsening conditions in certain industrial sectors, record household debt and a loss of purchasing power as utility and transport costs rose. Fact-checkers highlighted that some of Milei's figures, such as the deficit measurement, depend on the accounting method used.