The Government of Javier Milei achieved in 2025 a new primary fiscal surplus and financial surplus for the second consecutive year, of $11,769,219 million and $1,453,819 million respectively, figures that represent approximately 1.4% and 0.2% of the Gross Domestic Product (GDP).
The Minister of Economy, Luis "Toto" Caputo, pointed out these data this Friday in a message on X and emphasized the continuity of the positive result in public accounts, in line with the fiscal course adopted by the current libertarian administration.
The head of the Palacio de Hacienda also referred to the performance of the National Public Sector during the last month of the year. In that regard, he explained that "in line with the seasonality of primary spending during the month, in December 2025 the National Public Sector (SPN) recorded a primary deficit of $2,876,450 million and a financial deficit of $3,290,302 million."
One of the central aspects highlighted in the message was the historic nature of the fiscal result. Caputo stated that "this is the first time that two consecutive years of cash-basis financial surplus have been achieved since 2008, and the first time in the historical series that begins in 1993, obtaining this result while meeting all public debt service obligations of the National Public Sector." In accordance with this definition, the minister stressed that the surplus was achieved without any defaults on the State's financial obligations.
Regarding public spending, the official indicated that "primary spending in 2025 was 27% lower than in 2023 in real terms." He also maintained that this reduction was carried out with specific protection for the most vulnerable sectors.
