Argentina’s liberal leader said he would “continue to push” his radical economic policies.
Argentina’s liberal President Javier Millay has vowed to press ahead with his policies of radical economic liberalization, with or without support from Congress. In a State of the Union-style address to lawmakers Friday, Milley said she would “continue to push forward” with a sweeping economic reform package aimed at lifting the country from decades of dysfunction and decline.
“We will use every legal tool in the executive branch, with or without the support of our political leaders, to change this country forever,” Milley said. “If you seek conflict, you will find conflict.” Mr Millais posed a challenge to Parliament last month after MPs rejected his comprehensive reform bill, but tough negotiations with opposition parties cut the number of amendments by almost half. In a more conciliatory memo to local governors, Milley called for a 10-point “social compact” that would overhaul the tax allocation framework between the federal government and the provinces.
Milay, who won by a landslide in a November run-off, ended her term by devaluing the peso by more than 50%, cutting government subsidies for fuel and transportation, halving the number of ministries, and abolishing hundreds of regulations. started. The country’s government has claimed responsibility for tentative signs of economic recovery, including the first monthly budget surplus in 12 years and rising foreign exchange reserves. However, rapid inflation and Prime Minister Millei’s austerity measures have weighed heavily on Argentineans, leading to strikes and protests.
Millay, a self-proclaimed anarcho-capitalist who promised to restore the dynamism of Argentina’s “golden age” in the Early twentieth century, took workplace caution Argentines to put together “stunning adjustments” to restore the economy. “I ask for your patience and trust.” “It will take some time for us to see the fruits of our economic restructuring and the reforms we are implementing,” Millais said in a speech on Friday.
Argentina, Latin America’s third-largest economy, has been mired in an economic crisis for decades, suffering from massive debt, widespread poverty, and triple-digit inflation.