Before global financial turbulence, the president said he will respond with a greater reduction in spending. He concluded the agreement with the IMF and the end of the exchange rate.
Amid the financial turbulence that lives in the world for the commercial war that the American unleashed Donald Trump With the imposition of tariffs, the president Javier Milei He assured that the Argentine strategy Before an “external shock”, such as a rise in global inflation, it will be “with greater fiscal adjustment reducing public spending”. He said it within the framework of the national chain in which he concluded the agreement with the IMF for US $ 20,000 million and the end of the exchange rate.
“We are in better conditions than ever to resist external turbulence. Argentina was never so well equipped in its economic foundations to resist the tensions of the global economy. This does not make us waterproof,” Milei said in his speech, and said that “that in case something happened, we will absorb less damage than at any other time in our history and we will recover at a higher speed.”
“We must not underestimate this advantage with which others do not count, because today we are witnessing an important transition in how the global economy works. Not only in Argentina the history is being rewritten, but also in the United States and in the rest of the countries of the world,” said the president. He also added: “International order as we know it after World War II has ended and change processes as they always carry intervals of great volatility.”
“In this sense, in a sea of volatility, we are no longer a drift wooden raft; we are a true battleship. Moreover, in the face of the possibility that external shock becomes sharpened, we will respond with greater tax adjustment by reducing public spending. Specifically when these shocks occur, the economy is required to improve its current account. In turn, since our commitment to honor our debts is unwavering, that implies improving the commercial balance. This is to lower domestic absorption, “Milei insisted.
Source: Ambito
