Regarding tax reform, the head of state announced that they will seek reduce the amount of national taxes by 90% and return to the provinces “the tax autonomy that they should never have lost.”
“Next year the exit from the stocks will be a reality”he reiterated. “For this we are working on a definitive solution to the problem of stocks of the Central Bank, which can occur either through a new program with the Monetary Fund; or through an agreement with private companies,” he concluded.
Also Javier Milei announced that there will be free currency competition. “All Argentines They will be able to use the currency they want in their daily transactions. This means that from now on, each Argentine will be able to buy, sell and invoice in dollars, or in the currency they consider; except payment of taxes which for now will continue to be in pesos,” he stated.
As for the investments, The president promised to give him a logical fiscal framework at investments of more than US$200 million. “We already have a request for investment approval for more than US$11.8 billionand there are announcements for billions more in sectors like infrastructure, mining, steel, energy, automotive, technology, oil and gas,” he said.
Javier Milei proposed reforms to Mercosur and a free trade agreement with the US
The president also referred to a proposal for the Mercosur focused on eliminating tariff barriers that, he said, “they hinder internal free trade” within the South American bloc. And reduce the common external tariff “which makes life more expensive for all of us without any benefit in return.”
He also expressed his intention to promote in 2025 a free trade agreement with USA. ““It should have happened 19 years ago,” he said.
In another passage from tonight’s speech, Milei He announced that during the next year there will be a “deep chainsaw” that will include a new audit in the State to reduce the size of the public sector. “We are going to carry out a ruthless audit to move forward with the deepest reduction in public spending in Argentine history, which will leave us with a smaller, more effective and cheaper State for all tax payers,” he stated.
Furthermore, he assured that will continue to “eliminate agencies, secretariats, undersecretaries, public companies and all levels of the state that should not exist”. And he stressed: “Every attribution or task that does not correspond to what the National State is supposed to do will be eliminated.”
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Javier Milei on the exchange gap: “It is practically dead”
Regarding the evolution of the economy, the libertarian celebrated that the exchange gap “She is practically dead and the free dollar “It is at the same value as a year ago.” “16 years ago something like this did not happen in our country. This caused the average salary to grow by US$300 US$1,100“he stated.
In the financial field, he pointed out that “the country risk is below 700 points and our bonds are above US$70” and stressed that “Today banks prefer to work as banks.” “Today we not only have installments, but also 30-year mortgage loans,” he added.
The head of state assured that in the last 20 years “we have lived through difficult times”, but stressed that ‘difficult times create strong men.’ And he added: “This year we Argentines have proven to be strong men and women.”
He then stated that the economic recession is “over” and the country “It’s finally started to grow.” Along these lines, he once again thanked society “for trusting this Government.”
“We can end the year with relief”he said in a hopeful message and added that “we have left the worst behind”. “The future will be better and better. Happy times are coming in Argentina,” he highlighted.
Source: Ambito
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