The government of Javier Milei will do “the impossible” in the short term to “avoid the catastrophe” of hyperinflation in Argentina, reported this Tuesday the spokesman for the Presidency, Manuel Adorni.
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“The objective is to do the impossible in the very short term to avoid the catastrophe. We are facing one of the deepest crises in history and we are heading towards hyperfinancing and the decision is to avoid it,” said the presidential spokesperson in his daily appearance at the Pink House.
(Keep reading: Milei's Government announces in-depth audits in all ministries of Argentina)
In it he confirmed the disappearance of institutional advertising in the media “for a year” and confirmed that the Minister of Economy, Luis Caputo, will offer after 5 pm local time (3 pm Colombia time) a recorded message with his first package of economic measures.
The objective is to do the impossible in the very short term to avoid the catastrophe.
According to the spokesperson, the announcement will revolve around “cover this economic emergency” to try to “avoid a major catastrophe”.
(You can read: Milei calls for an economic 'shock' in Argentina: what his act of possession reflected)
“The inflation that we are going to avoid will surely be much more devastating than the hyperinflation of the years 1989 and 1990. That is why our concern and the urgency in the measures,” Adorni highlighted.
Adorni reiterated that the contracts and public appointments made by the previous Administration in the last year “are under review” and added that there will be the “corresponding sanction” for officials who do not want to collaborate with the Executive.
“The elephant-sized State cannot continue to exist because on the other side you have (you have) people who support it with their taxes – direct or indirect – who cannot put a plate of food on the table,” he asserted.
(Also: Possession of Milei: the vulgar gesture that Cristina Kirchner made when she arrived at the ceremony)
In fact, he recalled that, based on the Law of Ministries, sanctioned on December 10 when Milei took office, Ministries were reduced from 18 to 9; from 106 to 54 the Secretariats; and from 182 to 149 the Undersecretaries; in total, a reduction of 34%.
The public sector in Argentina represents more than 18% of total employment, one of the highest percentages in Latin America, with nearly 3.4 million people.
One of the issues he was most consulted about was possible street protests.
(Continue reading: Economic 'shock' and reduction of ministries, first Milei announcements in Argentina)
Regarding this, Adorni recalled that the fiscal adjustment will have “as a counterpart the expansion in social containment”, since, given “the seriousness of the situation”, “no one is going to stop helping those who need it.”
Regarding demonstrations and possible pickets, one of the issues most attacked by the center-right and the right in the electoral campaign, the spokesperson recalled the slogan popularized by both Milei and her former political rival and now Minister of Security, Patricia Bullrich: “Inside of the law, everything; outside the law, nothing”.
“It will be strictly complied with, there will be no exceptions. One of the things we have as a Government is that the law is respected”noted Adorni, who added, however, that “freedom of expression is not negotiable, in any area, under any circumstances and in any situation.”
Piqueteros movements and left-wing political forces called for the first protests against the economic adjustments advanced by Milei on December 20.
(You can read: What is the economic 'shock' that Javier Milei proposes for Argentina about?)
That date commemorates the serious crisis of 2001 in Argentina, which triggered a serious economic and social scenario in the South American country and led to the resignation of presidents Fernando de la Rúa (1999-2001) and Adolfo Rodríguez Saá (2001).
Argentina is mired in a serious economic crisis, with an annualized inflation of more than 140% and a poverty rate of more than 40%.
Milei, a liberal economist, maintains that the country needs shock treatment and that the fiscal adjustment will be equivalent to 5% of the Gross Domestic Product.
INTERNATIONAL EDITORIAL
*With EFE and AFP
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