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Javier Milei explained why the dollar collapsed in the last month

Javier Milei explained why the dollar collapsed in the last month

The President also said that inflation “will continue to fall sharply and the exit from the stocks is getting closer.”

President Javier Milei explained this Friday why the parallel dollar collapsed in the last monthin his speech before the Legislative Assembly in Congress.

The President said that for the Government “the fiscal deficit is the mother of all battles” and highlighted the fact that he had cut “monetary issuance” and cleaned up the Central Bank.

“With these policies, we have bought more than US$9 billion in the market. That is why the exchange gap has disappeared and the price of the parallel dollar has collapsed,” the president indicated.

“This Government is going to take care of each of the pesos of the Argentines,” expressed Milei at the opening of the 142nd period of ordinary sessions of the National Congress, where he assured that “The country’s risk is low despite the attempt by some degenerate prosecutors to sabotage good Argentines.”

The President also said that inflation “it will continue to fall sharply and the exit from the stocks is getting closer.”

Milei recalled that, during the electoral campaign, he had stated that his administration would advance with “a brutal and rapid adjustment of public spending”, with which he signed “an electoral contract of effort and sacrifice”, since “100 years of decadence cannot be reversed overnight.”

“Due to the mandate that the people gave us, we have carried out the most ambitious program in living memory, through which we began to destroy the fiscal deficit and made a cut of 5 points of GDP in public spending. Although there have been liquefaction, there has been more of a chainsaw for politics. The adjustment mostly fell on the national public sector, and not by increasing taxes and burdening the private sector,” he said when speaking before the Legislative Assembly.

Source: Ambito

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