Javier Milei celebrated the inflation data and announced that the exchange rate could come to an end in five months

After celebrating another piece of information about the inflation down, the president Javier Milei celebrated the low of the October index and announced that it could remove the exchange rate in five months. “When we repeat 3 months of 1% crawling peg we will be freeing the exchange market“he stated at the annual gala of the Endeavor Foundation.

“I warn you that, if we repeat numbers in this line for two more months, we will be lowering the crawling peg to one and When we repeat three months of one, we will be freeing the exchange market and freeing ourselves from the stocks and get out of all this adventure. So things are beginning to be seen,” he indicated.

Then he celebrated the drop in inflation marked in October. “In record time we are getting rid of one of the heaviest chains that a society can have: inflation. We achieved what seemed impossible in less than a year,” Milei reflected in the presence of businessmen, officials and right-wing leaders.

To explain the drop in inflation, the president mentioned the Minister of Economy, Luis Caputo“the best in the world”, and explained the plan he is developing. “He did it on two pillars. A adjustment in the balance of the treasury of 5 points of GDP and no one talked about the problem of paid liabilities. AND disarm the bomb of the paid liabilities and they eliminated a quasi-fiscal adjustment of 10 points of GDP,” he stated.

Economic recovery and reduction of poverty

He then stated that the economy is recovering, despite the adjustment, and even reached the levels of last December, when he took office. “To all those who predicted that as a result of this we were going to put the economy in a mega recession that was going to transform into a great depression, I tell you that in In the month of August, the monthly indicator of economic activity reached the same level that we had in December“he assured.

This would be generating, according to the president, a significant drop in poverty, something that “causes politicians to worry,” he said. He cited a study from the Di Tella University that would show that poverty, “After we were honest at the beginning of our administration and it reached 57%, today poverty is below 50%. That is, we have already dropped more than 8 points,” he celebrated.

Without distinctions between SMEs and large companies

“We are not going to make false distinctions between large companies and small entrepreneurs“said Javier Milei. The president described this distinction as an “aberration.”

According to the president, do This distinction would not be an incentive for entrepreneurs to grow, but rather to be small.. “That is not a horizon for a businessman. If he could, he would take the entire planet and that’s what he has to do. You can only be successful by serving others with better quality goods at a better price. I mean, for you (the businessmen present), the better things are for you, you are going to be heroes. They are going to become social benefactors,” he said.