Part 3/11:
Between Milei's ascendance to power and the subsequent economic measures, Argentina experienced a remarkable transformation in its fiscal standing. The cumulative primary deficit shrank from 1.5% of GDP to a surplus of 1.7%. However, the central financial concern lay not merely with public fiscal management but rather with the precarious situation of the Central Bank’s balance sheet. The major adjustments Milei implemented represented a drastic shift, amassing around 13 points of GDP over the course of his reforms.