Milei believes there is a risk of "hyperinflation" and predicts "six very hard months" of fiscal tightening
Argentina's president-elect, Javier Milei, believes that there is a risk of "hyperinflation" and that they will probably have to endure six "very hard" months of fiscal adjustment, as he commented in a series of interviews granted to local media on Tuesday.
"The adjustment is going to come anyway and it can take place with politicians making demagogy and end up in hyperinflation and that the adjustment will be monstrous, because it will send 90% of the population below the poverty line, or else make an adjustment that will be paid by politics," he stated.
In this sense, the leader of La Libertad Avanza indicated that the hyperinflation scenario is avoidable, but it is necessary to apply a "clockwork mechanism", for which -he assures- he will adjust the "items" of the State in which "politics steals".
"The results will not be instantaneous. We will have to explain to the population the state of the economy and the things we want to do", he continued, detailing that next December 10, when the transfer of power takes place, he will tell the people the "number of bombs that are planted" and they will do everything possible to "escape from what could be the worst crisis in Argentina's history"
In relation to this issue, the president-elect said that his priority will be to achieve fiscal balance by reducing public spending. "Fiscal balance is not negotiated, it is not under discussion. The minister who overspends, I will throw him out. I will make a 'shock' adjustment. In 2024 we will end up with fiscal balance", he said.
"We do not have money. So these works can be handed over to the private sector and the private sector can finish them," he warned when asked about public works. "We are going to go to a Chilean-style private initiative system. There is no money. If we don't make the fiscal adjustment we are going to hyperinflation," he added.
Another... "surprising solutions to longstanding problems."
A rude awakening awaits Argentina
Argentina's president-elect, Javier Milei, believes that there is a risk of "hyperinflation" and that they will probably have to endure six "very hard" months of fiscal adjustment, as he commented in a series of interviews granted to local media on Tuesday.
"The adjustment is going to come anyway and it can take place with politicians making demagogy and end up in hyperinflation and that the adjustment will be monstrous, because it will send 90% of the population below the poverty line, or else make an adjustment that will be paid by politics," he stated.
In this sense, the leader of La Libertad Avanza indicated that the hyperinflation scenario is avoidable, but it is necessary to apply a "clockwork mechanism", for which -he assures- he will adjust the "items" of the State in which "politics steals".
"The results will not be instantaneous. We will have to explain to the population the state of the economy and the things we want to do", he continued, detailing that next December 10, when the transfer of power takes place, he will tell the people the "number of bombs that are planted" and they will do everything possible to "escape from what could be the worst crisis in Argentina's history"
In relation to this issue, the president-elect said that his priority will be to achieve fiscal balance by reducing public spending. "Fiscal balance is not negotiated, it is not under discussion. The minister who overspends, I will throw him out. I will make a 'shock' adjustment. In 2024 we will end up with fiscal balance", he said.
"We do not have money. So these works can be handed over to the private sector and the private sector can finish them," he warned when asked about public works. "We are going to go to a Chilean-style private initiative system. There is no money. If we don't make the fiscal adjustment we are going to hyperinflation," he added.
Milei cree que existe riesgo de "hiperinflación" y augura "seis meses muy duros" de ajuste fiscal
"Los resultados no van a ser instantáneos. Habrá que explicarle a la población en qué estado está la economía y las cosas que nosotros queremos hacer", dijo el presidente electo de Argentina.
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Is a "Caracazo" coming for Argentina?
Milei: "the adjustment is coming and there will be 6 very hard months, but the adjustment will come anyway".
Journalist: And what will happen when people take to the streets?
Milei: "the law will be applied".
Very hard times are coming for Argentina.
Another... "surprising solutions to longstanding problems."
A: More to come. Just wait and see. Things are getting interesting and will move fast for the next several months as more and more people wake up to reality.
A rude awakening awaits Argentina