Elon Musk and Vivek Ramaswamy, co-heads of DOGE, have expressed admiration for Milei's policies. When Milei took over in December 2023, Argentina's inflation stood at 25.5%, while economic activity had fallen 4.5% year over year. AdvertisementArgentina's inflation rate dropped to 2.7% this October — the lowest level in three years, according to the predicting market website Kalshi. AdvertisementHowever, Facundo Nejamkis, director of Opina Argentina, a political consultancy firm, told Reuters that Milei's cuts have ignited a "major" recession. AdvertisementIn the first five months of 2024, Argentina's government achieved a primary fiscal surplus of 1.1% of GDP — its first in 12 years.

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Persons: Javier Milei, Elon Musk, Vivek Ramaswamy, Milei, Donald Trump, Musk, Ramaswamy, Ignacio Labaqui, Facundo Nejamkis, Maria Victoria Murillo, Juan Cruz Díaz, Cruz Díaz Organizations: Elon, firebrand, Medley Global, Reuters, BBVA, Institute of Latin American Studies, Columbia University, Argentine, Global, BBVA Research, Cefeidas Group, Ramaswamy Locations: Argentina