Argentine President Javier Milei warned on Saturday that the country will face a crisis if the National Congress does not accept the package of comprehensive and deep reforms, which his government is promoting as a “disaster of biblical proportions.”
“If we do not do what is necessary now, we will be heading for an economic catastrophe of unknown proportions for every living Argentinian,” the president predicted in a message broadcast on national radio and television on Saturday evening.
Milei defended the bill presented to parliament a few days ago, an initiative that provides for broad reforms in various areas and also provides subsidies if extraordinary powers of the executive in economic, financial, social and social security areas are approved, including to the end of 2025, with a possible extension for another two years.
“This bill gives the executive branch the necessary authority to act in this emergency. to avoid an economic catastrophe, while promoting deep reforms in trade, taxation, industry, the social sector, security, education and at all levels of government,” he argued.
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Milei, who assumed the presidency on December 10, said parliamentarians could reject the law and continue with the model that “impoverished” the country for a century, or approve the corresponding initiative “a profound change” and “extend the ideas of can embrace freedom’. .
The leader of the far-right La Libertad Avanza party, a very minority party in Congress, justified this by citing the quantity and speed of the measures – in his view, around 500 were needed to try to “eliminate the impact of the worst legacy of the soften history’. ”. and leaves behind the “caste model that plunges Argentinians into poverty.”
According to the president, Argentina is experiencing a “national emergency that requires action.” immediately and with force.”
Milei described a critical scenario: an economy with a consolidated deficit of fifteen points, a monetary emission of twenty points of GDP in the past four years, artificially regulated prices, a central bank without reserves and inflation that has reached 1.2 in recent weeks % achieved. “Which would amount to about 7,500% annualized,” he warned.
It is a “legacy that condemns half of Argentinians to poverty” and an “initial situation worse than that of 2001-2002, the worst crisis in Argentina’s history.”
“The next one will be difficult for everyone. But the other certainty I have is that if our program is thwarted by the same people who don’t want anything to change, we won’t have the resources to prevent this from turning into a crisis. social catastrophe of biblical proportions, he warned.
The head of state appealed to citizens to demand the approval of the bill from parliamentarians. This has generated intense controversy due to its scope regarding the delegation of powers to the President and the expansion of proposed reforms.
“Our reforms would mean that a level of economic freedom achieved over 45 years would allow us to increase our GDP per capita tenfold to a level comparable to that of Ireland,” Milei said, who concluded his message with an appeal to “the power of the air”.
Source: La Neta Neta
Karen Clayton is a seasoned journalist and author at The Nation Update, with a focus on world news and current events. She has a background in international relations, which gives her a deep understanding of the political, economic and social factors that shape the global landscape. She writes about a wide range of topics, including conflicts, political upheavals, and economic trends, as well as humanitarian crisis and human rights issues.
