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Javier Milei promised to get to work to turn around Argentina’s struggling economy. After decades of left-wing economic policies under Peronism, the people of this South American nation had enough last year. Inflation is through the roof in Argentina, where 40 percent of the population now lives in poverty. While the nation’s left-leaning political elements tried to cast Milei as insane and a threat to democratic norms, the Argentinian people saw that the economy needed radical changes, and who else to lead that than the man who wields a chainsaw at political rallies, who wants to wage war against “s**t leftists.”
He rolled out a hefty omnibus bill last month, loaded with reforms. Earlier this month, Milei delivered a “fiery” speech, promising to accelerate his reform agenda to right the ship, “Whether that’s by law, presidential decree or by modifying regulations.” He’s doing something right because inflation has dropped since he’s taken office (via Reuters):
Argentina’s monthly inflation rate slowed down more than expected to come in at 13.2% in February, a boost for libertarian President Javier Milei who is pushing tough austerity to try to tame the world’s fastest-rising prices.
The still sky-high monthly rate, published on Tuesday, marks a deceleration from January, when prices rose 20.6%, and December, when they were up 25.5%. Analysts polled by Reuters had expected February’s inflation rate to land at around 15%.
Argentina’s monthly inflation rate:
December: 25.5%
January 2024: 20.6%
February 2024: 13.2%Argentina also just recorded its 1st budget SURPLUS in 12 years (of $589M)
Milei was inaugurated 3 months ago pic.twitter.com/nTOs7Dy9g7
— End Wokeness (@EndWokeness) March 14, 2024
BREAKING:
Argentine President Javier Milei just managed to push through his package of reforms that will transform the country’s economic system.
300+ laws will be repealed or amended.
State-owned companies are sold off & massive deregulation introduced
The vote? 144 vs 109 pic.twitter.com/SuT87tRZ33
— Visegrád 24 (@visegrad24) February 2, 2024
According to data released by Argentina’s government statistics agency, INDEC, the country’s monthly inflation rate slowed to 13.2% in February, down from 20.6% in January and 25.5% in December. However, on an annual basis, inflation remains at its highest level in three decades, reaching 276.2% in February.
According to the Associated Press, government officials and analysts anticipate a price surge in March, driven by increases in energy costs, fuel prices, private education expenses, medical services, and other factors of the Argentinian economy. However, the Milei government stated in a release that February’s inflation rate was the outcome of “strong fiscal discipline.”
I did love Argentina, beautiful country, glad they’ve got him.
Never surrender pic.twitter.com/bXiU63Y17U— Alix (@AlixG_2) March 15, 2024
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