Javier Milei takes office as president of Argentina after an electoral campaign marked by insults and radicalism. His great challenge as leader of the Government will be economic management, in the face of skyrocketing inflation and inflation rates. poverty that They affect more than 40% of the populationwhich makes that the situation in Argentina is critical.

In this sense, Rodrigo Orihuela, head of Bloomberg’s correspondent in Spain, points out that “there is no economic growth in Argentina for more than a decade“The economy is stagnant, and in many indicators, the country has not improved, or even worsened, for at least 10 years.”

There, the financial crisis does not stop growing, while the shadow of hyperinflation lurks in the country. “In November alone, inflation has risen 11%, and we are going to finish the year at 160%“warns José Manuel Corrales, professor of Economics at the European University. “What is hyperinflation if it is not almost 200% inflation?” asks Rodrigo Orihuela.

The situation is very complicated in Argentina, where they await the measures of the new president. On the table are their controversial electoral promisesas the dollarization or the closure of the Central Bank. However, José Manuel Corrales points out in this regard that Milei “will not be able to apply the suppression of the Central Bank or dollarization, because that would be the bankruptcy of the State.”

Javier Milei “said again this week that he is going to close the Central Bank, and assured that it will happenalthough it is not going to be immediate,” emphasizes Rodrigo Orihuela, head of Bloomberg’s correspondent in Spain, who believes that “this it would be an experiment that has never been seen in an economy of the magnitude of Argentina.

With a historical debt, the only certainty is the big cuts that your government will make: “We are going to see what the resistance capacity of Argentine society is to these cuts, because if the cut is 50% in public education, health or social aid, it is difficult for a society to be able to bear it,” he says. the professor of Economics at the European University.

Radical cuts could cause a social outbreak against a government which begins its journey this Sunday.