BUENOS AIRES, Argentina (AP) — Argentina’s newly empowered President Javier Milei delivered a speech to thousands of supporters in Buenos Aires and presented shocking figures to address Argentina’s economic “emergency.” Milei has prepared the public for a shock adjustment with drastic public spending cuts.
He emphasized the urgency of the situation, stating, “We don’t have margin for sterile discussions. Our country demands action, and immediate action.” Milei suggested that the country was left on the brink of its biggest crisis in history by the political class, leaving no other option but to make hard decisions in the coming weeks.
Argentina is facing a series of economic challenges, including 143% annual inflation, a plummeting currency, and a high poverty rate. Milei’s approach to address these issues is to almost entirely affect the state with spending cuts, assuring the public that this is the first step toward regaining prosperity.
Javier Milei’s rise to fame, his landslide victory in the August primaries, was an unexpected upset that sent shock waves through the political landscape in Argentina. It has led to a major political change in the country.
The challenges don’t end here as Milei’s proposed adjustments are likely to face fierce opposition, especially from the Peronist movement’s lawmakers and the unions it controls.
Despite these obstacles, Milei remains determined to take Argentina on a path towards stability and growth, prioritizing substantial changes in the state to achieve long-term success.
Read more about Milei’s inauguration here.
