Argentina: New president Javier Milei announces though fiscal adjustment
Argentina's new president, Javier Milei, announced a tough fiscal adjustment to eliminate the financial deficit, and the privatization of state-owned companies such as YPF and public media. teleSUR
Transcript
00:00 Javier Millet warned Argentinians that it would be necessary to make a tough fiscal
00:03 adjustment that would imply sacrifices but would eventually bear fruits, as he assumed
00:09 the presidency on Sunday.
00:11 The president of Argentina addressed a message to his followers in which he made it clear
00:15 that he plans to have economic shock and a tough fiscal adjustment is the bet for his
00:20 first month in office.
00:22 Millet launched a string of data on the country's fiscal deficit to justify the upcoming implementation
00:27 of his plan of measures.
00:29 He considered that the solution implies a fiscal adjustment in the national public sector
00:33 of five points of GDP, which, as he promised, will fall most entirely on the state and not
00:39 on the private sector.
00:41 The application of a program of forceful cuts will have a negative impact on salaries, poverty
00:45 levels and indigency.
00:48 Among the guests invited to the ceremony are the King of Spain, the presidents of Armenia,
00:52 Paraguay, Chile, Ukraine, the Israeli foreign minister and the US Secretary of Energy.