More recently, Javier Miley took the presidency in Argentina, but has already begun the reforms that he spoke about during the election campaign. In just a few days, he reduced the number of ministries by almost half, and also devalued the national currency, the peso, by more than 50%. It was also announced that government spending would be reduced by almost 3% of GDP, RTVI writes.
Even before his election as president, Miley expressed a desire to merge several departments to reduce their number. His first step in his new post was a decree reducing the number of ministries from 18 to 9. Thus, only key ministries operate in the country, including the economy, defense, internal affairs and health care.
In addition, Miley made amendments to the decree of the previous president prohibiting the appointment of persons associated with the head of state to government positions. However, he himself adjusted this decree to appoint his sister as head of the presidential secretariat.
To correct the country’s difficult economic situation, the new authorities devalued the national currency by 54%. Further, it is planned to gradually reduce the exchange rate by 2% per month. The government also expects to cut budget spending by 2.9% of GDP, including subsidies for energy and transport. Tax revenues are expected to increase by 2024.
In addition, the Miley government is taking other measures such as reducing remittances to the province, stopping public works and eliminating export duties. Press advertising will also be suspended for a year.
Source: Rosbalt
Mario Twitchell is an accomplished author and journalist, known for his insightful and thought-provoking writing on a wide range of topics including general and opinion. He currently works as a writer at 247 news agency, where he has established himself as a respected voice in the industry.
