President Milei Pledges Further Cuts and Economic Reform in Congressional Address
In his recent state-of-the-nation address, President Javier Milei vowed to continue aggressive cuts to public spending and introduced his administration as one of the most effective in Argentine history. He discussed a new agreement with the IMF, expressed a desire for free trade with the United States, and acknowledged the need for security reforms in response to opposition criticisms.
In his state-of-the-nation address on Saturday, President Javier Milei announced his intention to implement further swift cuts to public spending, which he termed ‘chainsaw’ measures, emphasizing that such austerity would persist for years. The President asserted that his administration is the most effective in the last half-century, while his speech elicited cheers from supporters and dislikes from adversaries.
Milei claimed that his government heralds a new economic era for Argentina and predicted improving economic circumstances ahead. Coupled with his criticisms of political opposition, he proposed a renewed agreement with the International Monetary Fund (IMF), asserting that public spending reductions are crucial to bolster fiscal discipline.
Among various assertions, Milei highlighted that he has fulfilled 97 percent of his campaign promises within one year and indicated plans for a new deal with the IMF, aimed at lifting currency controls and mitigating inflation. Furthermore, he expressed intention to pursue a free-trade agreement with the United States, considering a withdrawal from the Mercosur trade bloc if necessary.
Reflecting on achievements, Milei noted the layoff of 40,000 public sector employees and closure of multiple state agencies, which he characterized as non-essential. Despite facing harsh criticism for provoking a recession and increasing poverty levels, the President maintained that temporary hardships will yield long-term economic benefits.
The consequences of recent protests and absences of opposition lawmakers were evident during the speech. Critics, discontented with Milei’s position on various issues, staged demonstrations and termed his recent cryptocurrency venture as a significant scandal. In light of this, Milei contended that policy shifts will address underlying financial crises and ensure economic rejuvenation.
Milei’s address also involved a pivotal focus on security issues, vowing to strengthen laws concerning criminal accountability and public safety in Argentina. He explicitly targeted opposition figures while suggesting shifts in policies that address drug trafficking and terrorism. Despite the volatility surrounding his presidency, he expressed hope that Argentina’s trajectory aligns positively with global economic trends.
President Javier Milei’s recent state-of-the-nation address reveals his commitment to strict fiscal austerity and ambitious economic reforms. Declaring his government as the best in decades, he seeks significant cuts to public spending, a renewed IMF agreement, and potential trade agreements with the United States. Despite facing criticism for rising poverty and dissent, Milei remains optimistic about Argentina’s economic future, promising to address pressing national security concerns and pursue aggressive governmental reform.
Original Source: www.batimes.com.ar
