nostr:nevent1qqsdy0qu84u8ccvrfmx5dh5dxxhfm0ypcc33xthj8rpmkpl87vww37cpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygrpqejsgct7u7fcwqs7rryflduarhdu8eal7xw0y2v0gprxlpc4aypsgqqqqqqsy8lstl

https://alt-market.us/globalists-are-taking-the-mask-off-and-thats-a-bad-sign/

https://www.bnr.nl/nieuws/economie/10558606/milei-duwt-argentijnen-verder-de-armoede-in-inflatie-op-237-procent

Milei pushes Argentina further into poverty, inflation at 237 percent

Since the arrival of the libertarian president, Javier Milei has not been doing any better with Argentina. With the promise to take the economy firmly on the shovel, the eccentric Milei took office, but almost a year after his arrival, the economic chaos has actually increased in Argentina.

Sinds komst van de libertarische president Javier Milei gaat het allerminst beter met Argentinië.

Since the arrival of the libertarian president, Javier Milei has not been doing any better with Argentina.( () thatANP / AFP) ()

Milei has so far had one small victory: inflation is falling. In September, the price increase has remained at 3.5 percent compared to a month before and for October the same level is expected. If you look at the bigger picture, the economy is far from stable with an expected inflation of 124 percent over the entire 2024. If you compare the August figures of this year to last year’s, the picture is even more dramatic. The prices have more than tripled with 237 percent compared to then.

Due to the large price increases, it becomes enormously difficult for the average Argentine to get by. “We lose sight of what’s expensive and what’s cheap,” says university professor Daniel Vazquez. “Prices continue to rise and the only thing that does not increase are salaries,” he told Reuters. Meanwhile, the gap between salaries and price increases would be 'very great', says Vazquez.

Read also about

Argentines deposits massive dollars at banks after tax gift Milei

Argentina is a global leader when it comes to who has the highest inflation. The libertarian president Milei has cut in subsidies for sectors such as energy and transport, while he has vowed to prune in the public sector, by closing some offices and cutting jobs.

Poverty is on the increase

The substantial cuts have not yet yielded positive results. On the contrary, poverty rates have risen to 53 percent, while the country’s recession continues. Computer programmer Ivan Cortesi says that while food prices remained similar to last month, the cost of utilities rose significantly. “Over the past month, all utilities have increased significantly,” he told Reuters.

When Milei took office in December, he not only made substantial savings, he also single-handedly devalued the local currency. He would prefer to see the country bid farewell to the Argentine peso and that is exchanged for the dollar.

Demonstrations and demonstrations

Meanwhile, Milei sees the dissatisfaction from the population against him. In recent times, students and education staff took to the streets en masse to demonstrate against the policy of the libertarian president. They are dissatisfied with a veto that Milei has spoken for a passed bill to increase the budget for universities in line with inflation.

Read also about

Milei Wants to Save Argentine Economy by Cutting Insurgiously in Government

Sign up now for the BNR Newsletter for your daily dose of news and podcast tips. Every morning and/or afternoon in your mailbox so you are always up to date. Stay Sharp. Stay Sharp.

Share this article

Related articles and articles