The exit from the stocks to the dollar, 1% inflation and “low gross poverty”: Javier Milei’s definitions

The president Javier Milei analyzed the economic indicators of recent weeks and celebrated the program carried out by the ministry led by Luis Caputo. “We are reducing poverty by 8 percentage pointsit is an enormity. “When did you see such an abrupt fall in poverty in such a short time?” said the president in radio statements.

Regarding the lifting of the Stocks, the libertarian leader assured that “three conditions” must be met to eliminate exchange controls. Thus he assured that when “the inflation of the program tends to 0, the traditional monetary base coincides with the broad monetary base and the stock problem is eliminated from the central problem. That day you can open.”

Javier Milei assured that poverty dropped “8 points”

In radio statements, the President celebrated the latest economic indicators. In terms of activity, Milei assured that the IMF ““is projecting that we are going to be growing 5%,” and further stated that the real salary “For 5 months it has been growing clearly and forcefully“. On the other hand, he also highlighted that the “unemployment indicators did not increase” and that “the country risk drilled the 1000 points again“.

Regarding inflation, the president explained that, currently and according to the Government program, the “true inflation“comes”traveling at 1%“. Along these lines he added: “As I have a devaluation rate of 2% monthly, plus international inflation, I have program-induced inflation of 2.5%. The last data gave me 3.5%, which means that the remaining inflation is 1%. “It means that today the annual inflation of the program has been traveling at 13% annually.”

But the most important definition came when the economist referred to poverty numbers. “When the semester is separated into a quarter, we saw in the 1st quarter a poverty of 55% and when you look at the second it is at 51%”, he assured.

But going further, the President stated: “If one looks at the monthly data Today poverty is at 49%“.”We are reducing poverty by 8 percentage points, It is an enormity. “When you saw such a sharp drop in poverty in such a short time.”

The numbers Milei refers to are from Martin Gonzalez Rosadaprofessor at the Don Torcuato Di Tella University who conducts monthly poverty studies. Along these lines, the President assured that the jump in poverty was the fault of “sincerity” that they had to carry out when they took over the Government in December 2023.

Javier Milei confirmed the Government will remove the stocks on the dollar

Another of the great issues demanded of the national government is the exit of the dollar stocks. In this sense, Javier Milei proposed 3 great conditions that must occur in order to remove the restrictions.

First of all, the President assured that in order to remove the stocks, inflation must tend to 0. “What is the 0 inflation of the program. Since I have a rate of devaluation of 2% monthlyplus international inflation, I have a program induced inflation of 2.5%. The last data gave me 3.5%, which means that the remaining inflation is 1%. It means that today the annual inflation of the program has been traveling at 13% annually. The day that inflation becomes 0, I take out the controls“.

On the other hand, the President added: “I have to verify that the monetary base In the conventional format it is mapped and equal to the broad monetary base. What does it have to do with everything? disarming of the LEFI and the LECAPSof how banks are receiving demand for credit. As the LEFI and LECAPS disappear, that means that this increasing the demand for money and that this expansion has the opposite side of demand for money and Therefore it is not inflationary.”.

The third element to control according to the libertarian leader is not having “problems with debt stocks“. “Once those three conditions are fixed: the program’s inflation tending to 0, the traditional monetary base coinciding with the broad monetary base and eliminating the stock problem from the central problem. That day you can open“

Despite giving the conditions that must be generated to lift the trap, the President avoided giving temporal references. “It depends on the will of the individuals. I depend on the will of money,” he concluded.

Javier Milei referred to the Government’s conflict with the UBA

Finally, in his speech Milei also analyzed the problem with universities. “At no time did we question the public university and we never considered the tariff. With which they took young people to the marches with premises that were lies. The only thing we were asking for was audits, so that they could account for what they were doing with the money.”.

In that sense, the economist minimized the demonstrations carried out by the educational community on April 23 and October 2. “I’m going to give you the official numbers of the number of people. First march, 230,000 people. Second march, 60,000 people. You know what that means, not only that it fell 75%. 60,000 people but in a paraded march by Kirchnerism, the unionists, the radicals and the left, That’s an easy number that you don’t even need a student to do.“, he denounced.

“In the Last march there were very few studentsunless they are those on the left who are students and activists of the left. It means that the young people became aware that they had been used human shield to defend the choreo from a group of criminals,” he warned.

Finally, Milei assured that the administration does not want to “intervene in the universities” but that they will move forward with the audits. “If you don’t want to show the numbers it’s because it’s dirty“, he analyzed.

“Just as we hit a kick the ass of 3155 guys who were in AFIP that they dedicated themselves to persecuting people, so we are going to go search and we are going to put in prison those who stole money, the corrupt ones,” he concluded about the university conflict.