403
Sorry!!
Error! We're sorry, but the page you were
looking for doesn't exist.
Javier Milei Named Economist Of The Year By Brazilian Economists’ Order
(MENAFN- The Rio Times) The Ordem dos Economistas do Brasil (OEB) has named Argentine President Javier Milei "Economist of the Year," recognizing his controversial economic reforms aimed at stabilizing Argentina's struggling economy.
The announcement, made during a February 25 meeting in Buenos Aires, highlights Milei's efforts to address inflation and fiscal challenges. The award ceremony is set for August, with Milei expected to visit Brazil for the event.
Since taking office in December 2023, Milei has implemented sweeping austerity measures to tackle Argentina's economic crisis. His policies include cutting public spending by 30%, eliminating subsidies, and reducing government payrolls.
These actions helped Argentina achieve its first fiscal surplus since 2008 and reduced monthly inflation from triple digits to 2.2% by January 2025. However, these reforms have come at a social cost. Poverty rose to 55% in late 2024 before projections suggested a decline to 38%.
Unemployment increased from 5.7% to 7.7%, and cuts to social programs and pensions have drawn criticism from opposition groups and human rights organizations.
Argentina's Economic Outlook
While the OEB praised Milei's“strategic vision” for stabilizing macroeconomic indicators, critics argue his policies prioritize fiscal metrics over social welfare. Milei's recognition follows other international accolades, reflecting his growing influence as a proponent of free-market principles.
Yet his leadership remains divisive, particularly as Argentina grapples with the long-term effects of austerity on its population. The potential visit to Brazil could also carry political implications, given Milei's tense relationship with Brazilian President Luiz Inácio Lula da Silva.
The two leaders have clashed ideologically, and Milei previously skipped a Mercosur summit to attend a conservative event hosted by former President Jair Bolsonaro.
As Argentina navigates the outcomes of Milei's policies, this recognition underscores the broader debate on balancing economic stability with social equity-an issue that resonates across global markets and policymaking circles.
The announcement, made during a February 25 meeting in Buenos Aires, highlights Milei's efforts to address inflation and fiscal challenges. The award ceremony is set for August, with Milei expected to visit Brazil for the event.
Since taking office in December 2023, Milei has implemented sweeping austerity measures to tackle Argentina's economic crisis. His policies include cutting public spending by 30%, eliminating subsidies, and reducing government payrolls.
These actions helped Argentina achieve its first fiscal surplus since 2008 and reduced monthly inflation from triple digits to 2.2% by January 2025. However, these reforms have come at a social cost. Poverty rose to 55% in late 2024 before projections suggested a decline to 38%.
Unemployment increased from 5.7% to 7.7%, and cuts to social programs and pensions have drawn criticism from opposition groups and human rights organizations.
Argentina's Economic Outlook
While the OEB praised Milei's“strategic vision” for stabilizing macroeconomic indicators, critics argue his policies prioritize fiscal metrics over social welfare. Milei's recognition follows other international accolades, reflecting his growing influence as a proponent of free-market principles.
Yet his leadership remains divisive, particularly as Argentina grapples with the long-term effects of austerity on its population. The potential visit to Brazil could also carry political implications, given Milei's tense relationship with Brazilian President Luiz Inácio Lula da Silva.
The two leaders have clashed ideologically, and Milei previously skipped a Mercosur summit to attend a conservative event hosted by former President Jair Bolsonaro.
As Argentina navigates the outcomes of Milei's policies, this recognition underscores the broader debate on balancing economic stability with social equity-an issue that resonates across global markets and policymaking circles.
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.
Comments
No comment