The 10 measures of the emergency plan announced by the new Government of Argentina

“Neutralize the crisis and stabilize economic variables” of the South American country are the purposes of the package of “urgency” announced this Tuesday by the Minister of Economy, Luis Caputothe first measures of the Executive of Javier Milei.

These are the 10 measures of the announced plan:

1. State labor contracts that are less than one year old will not be renewed.

2. National Government advertising in the media is suspended for one year.

3. The number of ministries is reduced from 18 to 9 and the secretariats from 106 to 54, which will allow a reduction of 50% of hierarchical positions in the Public Administration and 34% of the total political positions of the national State.

4. Transfers from the national State to the provinces will be reduced to a minimum.

5. The national State is not going to put out to tender any more new public works and is going to cancel approved tenders whose development has not yet begun. Infrastructure works will be carried out by the private sector.

6. Energy and transportation subsidies will be reduced.

7. The official exchange rate goes from 400 pesos per US dollar to 800 pesos per unit, which implies a devaluation of the Argentine peso of 50%.

8. The current import regulation system will be replaced by a statistical system that will not require prior approval of licenses.

9. The state aid plans for the unemployed (Emphasize Work plan) will be maintained in accordance with the provisions of the 2023 Budget and social policies that are received directly by those who need them will be strengthened, such as the Universal Child Allowance – an aid paid by the State- and the so-called Alimentar Card, which allows the most vulnerable sectors to purchase food.

10. The amount of the Universal Allowance per child will be doubled and the amount of the so-called Alimentar Card will be increased by 50%.