Argentina brought in its first budget surplus in more than a decade in 2024, data published on Friday showed, marking a win for libertarian President Javier Milei and his sweeping austerity push in his first full year in office.

President Javier Milei made good on his promise to deliver a fiscal surplus in his first year, achieving a feat not seen in over a decade in Argentina’s deficit-prone economy.

Argentina brought in its first financial surplus in more than a decade in 2024, Economy Minister Luis Caputo said on X on Friday, despite the monthly data for December being in the negative. The South American nation logged a primary fiscal deficit of 1.