Report by Liliana Franco, special envoy.- The president Javier Milei He went up to the lectern and received a standing ovation from the businessmen who were waiting for his speech. The red circle awaited definitions on the fly, but especially about the future of Argentina. Strictly speaking, they took more of a class on economic policy and a review of the 10 months of the current administration and the inheritance received. But also a request: “It’s time to invest.”
Within the definitions, Milei insisted that his government will not devalue and that it will advance towards endogenous dollarization, while reiterating that this plan will strengthen the peso. “The most likely thing is that Argentina will go, without a doubt, to a much more appreciated currency level,” he stated. Of course, he also claimed the adjustment of spending and the consolidation of the zero deficit.
Besides, He highlighted the results in lowering inflation, surely the main achievement so far. He maintained that the country risk “is going to collapse” and that when the “induced” inflation ends, the stocks will be released.
“The Central Bank is not going to bother you anymore because, according to endogenous dollarization advancesThere will be a time when the operation in dollars will be very large, and in pesos very small, and when that situation occurs we will be in a position to close the Central Bank and that politicians can never again scam them with the inflation tax in their lives,” the President said before an audience that generally applauded with moderation.
Milei made a strong call to businessmen to invest in the country because, he considered, only the private sector is the one who will put the economy up and running. He said this when demanding the removal of the State from that function, faithful to his liberal conception.
“You are responsible for your own destiny, you are the architects of your own future. If you don’t take care of yourselves, who is going to do it? The State? No, because the only thing the State can do is damage, the State does not produce anything. When the State gives something, it is because it first stole it from someone. That is why we have implemented the most liberal policy in all of Argentine history.”just as Minister Federico Sturzenegger had done earlier, confirmed that it will not be the State – at least not this liberal version – that will help them.
And he insisted: “You are responsible for making Argentina great again. We are only giving you a playing field on which you can play. But you are the ones who are going to put Argentina on its feet.”
Milei also anticipated that a “wave of investments” is expected, especially in the energy sector. In this sense, he highlighted the implementation of the RIGI (Comprehensive Investment Guarantee Regime), which he assured will offer solid guarantees to those who decide to invest in Argentina, allowing the private sector to operate without the usual fears related to expropriations or unforeseen changes in the rules of the game. “We incorporate the financial economic equation of a business, which means that every time the State wants to carry out fiscal policy that harms the private sector, the cost is much higher.”he explained.
He RIGI will also allow investors to choose local or international courts to resolve disputes, which, according to Mileiwill increase legal certainty and accelerate arbitration processes. “The politicians’ joke is going to end by expropriating wealth creators,” he stated, underlining the importance of guaranteeing a predictable business environment to attract long-term investments.
During his presentation at the 60th IDEA Colloquium, which was held in Mar del Plata, the president began by reviewing the inheritance he received from the government of Alberto Fernandez and revealed that “It was important to make the adjustment during the holidays, so that people wouldn’t find out as much, so to speak”.
“Due to the type of adjustment we were making, it was very likely that the strongest impact would be felt in the first quarter,” acknowledged the head of state.
Along the same lines, the libertarian economist assured that “retirements are 10% above inflation and above what they were in November.” “In addition, in dollars they tripled,” he insisted.
In addition, he assured that the “negative impact” that there was in the first quarter in the productive sector “has already begun to be reversed.” “The utilization of installed capacity is above what we had last year,” argument.
“The economic program was so well designed that it meant not having to suffer greatly in terms of activity,” celebrated the head of state.
In another section of his speech, Milei highlighted his economic program: “The most similar program in terms of adjustment that was made in Argentina, much smaller, was what happened with Duhalde in 2002. That year the GDP fell 10.9% and in the second quarter, which is when the adjustment fully began, the economy fell 16%. I tell you that if we take the latest data from the EMAE, seasonally adjusted, and compare it with November-December, the drop is barely 0.6%.”
“If you want to see it with industry, it is already at the same levels as November. That is to say, there was a negative impact in the first quarter and it has already begun to revert. The economic program was so well designed that it meant not having to suffer strongly in terms of activity and today the use of installed capacity is already above last year,” remarked the Head of State.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
