(MENAFN) Argentinian President Javier Milei has presented a sweeping economic reform agenda aimed at revitalizing the country's struggling economy. During a recent speech at the IEFA Latam Forum in Buenos Aires, President Milei outlined his plan, which includes significant cuts to the state sector and social welfare programs.
Among the proposed measures, President Milei intends to reduce the state workforce by 70,000 positions and eliminate over 200,000 social welfare programs. These reforms are part of a broader strategy to stabilize Argentina's economy, which has been grappling with high inflation and economic challenges.
During his speech, President Milei emphasized the importance of aligning peso futures contracts with the central bank's policies, rejecting calls for sharp currency devaluation. He highlighted the need for bold action to address the country's economic woes, pointing to soaring inflation rates and the erosion of wages and pensions.
Throughout his campaign and presidency, President Milei has been vocal about his commitment to market-driven policies and reducing government intervention in the economy.
He envisions a leaner state apparatus and increased reliance on market forces to stimulate trade and exports, ultimately driving economic growth.
President Milei's reform agenda aims to achieve fiscal balance and spur a V-shaped recovery, restoring public confidence in Argentina's economic prospects. He plans to pursue further reforms following the 2025 congressional elections, with over 3,000 initiatives already in development.
MENAFN28032024000045015687ID1108032172
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.