Austerity’s Cost
Argentina’s economic crisis has reached an alarming point, with poverty rates expected to surpass 50 per cent.
The president-elect of Argentina, Javier Milei, has said that when coming into office next month, he plans to make an adjustment in public spending, and privatise companies such as Yacimientos Petroliferos Fiscales (YPF) and public media.
“My intention is to be the first link in the Argentine reconstruction. Afterwards we will see if I have to govern for four or eight years. I want my government to mark a turning point in Argentine history,” Milei was quoted by the state news agency Telam as saying on Monday.
The far-right candidate from the Liberty Advances coalition won 55.69 per cent of the votes in Sunday’s runoff election, beating the ruling party candidate, Economy Minister Sergio Massa, who obtained 44.3 per cent of the votes, Xinhua news agency reported.
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Milei, who will assume the presidency on December 10 for a four-year term, said that he will carry out a “fiscal adjustment” to put public accounts in order, which “will not be paid for by the good Argentines, but by the politicians”.
He also said he intends to privatise state-owned companies and agencies, such as the YPF, Energia Argentina, public television, national radio and Telam, among others.
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