Argentine President Javier Milei said Saturday in Germany that he has won the battle against socialists in his country, who have turned violent because his liberal recipe for reducing inflation and boosting economic recovery is working.
“Not only have we fought the cultural battle, but now we are carrying it out in practice. The reason socialists are so violent is because it is working and they are failing,” said Milei in his acceptance speech for the medal awarded to him in the city of Hamburg by the neoliberal Hayek Society.
Milei highlighted that he inherited from the previous government a fiscal deficit of 15% of GDP – five points in the Treasury and ten in the Central Bank -, in addition to inflation that was at an annual rate of 17,000%, with wholesale inflation of 54%.
“In the last observation it was 3.5%”, that is, around 50% annually, said the Argentine president, who admitted that the value is still very high, but, compared to the previous 17,000%, “it is a huge achievement ”.
“We decided to make an adjustment. Today I say that six months later we made the biggest fiscal adjustment in the history of Argentina, highlighted Milei, who was accompanied by her sister, Karina.
The Argentine president explained that his team did not carry out expropriations or introduce price controls, direct or induced, nor did it control the exchange rate.
“Obviously this would not be cost-free. But we always told people to their face that there was no money, that it was going to be difficult, that the beginning was going to be complicated, but that, if we did it this way, there would start to be good results”, he stressed.
Milei also highlighted that he did all this while passionately defending his ideas, despite “politics not following us”.
“It was an impediment machine all the time. Not only did they not help us, but they also tried to carry out a coup d’état from the first moment”, he criticized, further stating that, despite all the obstacles, the destabilization attacks, “we are coming out successfully”.
In his speech in Hamburg, he emphasized that the Basic Law, his main project that establishes the legal framework for the profound transformation of Argentina’s economic and social model, is the “largest structural reform” since Carlos Menem’s, which marked the years 1990 in the South American country, or in fact “five times bigger”.
In this sense, he declared that “we are defeating the entire political caste in Argentina, thanks to the ideas of freedom”.
The Argentine president was also convinced that with structural reforms the country will make a leap in the level of great economic freedom, “similar to what Germany or France have”.
“But we want more economic freedom”, he highlighted, projecting to be like Ireland and then “the freest country on the planet”. (With EFE Agency)
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