Before his trip to the US, the President spent a morning on Twitter, and launched a message about public spending. He did so after the Pope’s statements on “social justice.”
In the run-up to his trip to the US, and following Pope Francis’ call for “social justice,” the president Javier Milei He assured today that The “best social policy” involves reducing the fiscal deficit, and he attacked national legislators, once again calling them “fiscal degenerates.”
He did so via a post on his X account, while he was traveling to the United States. The text was titled “EMBI vs. GDP Ratio.” The first acronym refers to the Emerging Markets Bond Index, while the second to the Gross Domestic Product.
“Given the impact of the actions of the degenerate prosecutors on the country risk, I asked Federico Sturzenegger to measure the relationship between the EMBI and the GDP,” Milei began.
Along those lines, he continued: “In light of the results, if the country risk returned to the levels that the K had, we would be losing a third of the GDP, going from USD 600MM to USD 400MM,” he continued.
“In short, the joke of the degenerate prosecutors costs USD 200MM. At the same time, if the GDP is taken in pesos, the impact would be 1/3 of that observed in dollars,” he said.
Finally, the president said that what is reflected in the table “means that when the degenerate prosecutors advance the GDP in dollars, it falls by 1/3 due to lower activity and 2/3 due to a jump in the real exchange rate.”
“Therefore, salaries in dollars are destroyed and the number of poor and destitute people soars. That is, the degenerate prosecutors, in their love for the poorest, only multiply their actions. The best social policy is fiscal balance with decreasing fiscal pressure and a monetary policy that ends inflation,” he said.
Milei’s explanation comes just hours after Pope Francis criticized the national government for its economic direction and repudiated the repression against retirees days ago in Congress, after vetoing a new increase and a reform of the system.
Source: Ambito
