Libertarian President Javier Milei of Argentina has presented the 2025 budget to Congress, outlining policy priorities that reflected his key pledge to kill the country’s chronic fiscal deficit and signaled a new phase of confrontation with lawmakers.

Argentina's stock index was up over 1.6% in early trading on Monday, as markets reacted positively to the government's ambitious 2025 budget proposal. Bonds were edging up a day after President Javier Milei told Congress he would defend his government's budget draft and said he would veto any bills that threaten it in order to protect fiscal balance.

Argentina’s libertarian President Javier Milei has announced he intends to eliminate the budget deficit entirely next year, doubling down on promises of fiscal discipline despite a recession. Milei turned the annual budget speech,