The actual president of Argentina started his term by relying on false hopes. Many believed their country would become a better place to live and to thrive, but unfortunately their expectations were all shattered.
How it all started
On December 10th, 2023, Javier Milei took office representing the political party La Libertad Avanza. Milei and his allies have always defended an economic program based on low inflation, zero deficit and an open financial system. In that part, he’s been quite successful: this last semester, their GDP (Gross Domestic Product) kept growing in a scale of 2,2%, inflation decreased to 33,5% – although it increased from 1,7% in August to 1,9% in September – and the government registered fiscal surplus.
These victories are undeniable, but the Argentinos themselves haven’t felt yet the budgetary evolution promised by Javier Milei.
So, you might be wondering, how did Javier Milei not manage this chaos? How did he let his country get into this crisis even though his numbers are surprisingly positive? The first spark lit up with the strong economic adjustment, lower budgets for education, health and culture and the weakening of local business thanks to Milei’s economic openness project.
These decisions resulted in a series of protests and outrages. The medical field had a 32% budget cut in 2024 and the cultural had gone from two hundred movies and documentaries produced in 2023 to zero financed by the National Institution of Audiovisual Arts (Inca).
According to an Argentine doctor named Theresa, about 30% of her work colleagues resigned from their positions due to the poor conditions and low salaries.
They want us to be destitute”
said Theresa to the Brazilian journalist vehicle The Globe.
And also, about 700 thousand jobs, direct and indirect, are created by the audiovisual sector, so what is the point of not investing in it?
We ask what the government’s goal is: to destroy something like the cinema, which is part of the Argentine identity?”
asked the movie director, Marcelo Piñeyro to The Globe.
In addition, Milei’s sister, Karina Milei, presidential secretary, was accused of being involved in a pharmaceutical corruption scheme. Reported by Diego Spagnuolo, ex-head of the National Agency for Disability (Andis), Karina would be demanding bribes from medical industries in exchange for purchasing medications for the public healthcare system. After that, his life and his sister’s were put at risk, they were both attacked during a car parade in Lomas de Zamora.
These decisions and scandals affected Javier Milei’s government national disapproval, it reached a percentage of 58% according to an AtlasIntel research, intensifying the pre-election tensions.
The (though) reality
The expectations were high, but now the reality is like a slap on their faces. Although Milei promised to decrease the inflation — which he did, Argentina’s still is the fourth biggest in the world.
According to the Argentine Occupational Safety and Health Authority, more than 32 thousand companies were closed during Milei’s term, therefore, more than four hundred thousand employees were removed from formal employment registries. Due to this tragedy, the unemployment rate reached 8% and the power of purchase is now lower than expected.
“Milei has been reluctant to acknowledge that his efforts to weaken inflation have hurt economic growth.” — published in The Economist and quoted in the Brazil Agency.
Besides, Milei has opposed the public critics: “If all the businesses were being closed and none opened, unemployment would be exploding and it isn’t” – during a conference in August.
“Business was going well until consumption dropped drastically and I had to close.” – said Alejandro Marchizotti, the owner of a burger joint, to BBC News Mundo — “Furthermore, the price of utilities like electricity and gas, and the cost of rent, brought me down.”
Clearly, the poor are getting poorer and the rich are getting richer. That does not seem to bother the president, not only because it doesn’t affect him, but also because it is not his priority. A couple choices made by the president could prove all this, the easing of import restrictions that weaken the internal market and the end of subsidies that harm an entire population.
Countless dreams were, are and will still be destroyed. Even so, there are countries and leaders who wish to follow the economist’s steps. The Brazilian candidate, Flávio Bolsonaro, is one of them, he openly declared that his economic plan is inspired by Milei’s. That makes us wonder if the social inequality will get worse not only in Argentina, but also beyond its borders.
In addition to all of this, the elections are just around the corner and the Argentinos will have to choose between the two main candidates, Milei and Axel Kicillof, a leftist representative and provincial governor of Buenos Aires.
The ex-Minister of Economy, Kicillof, is labeled as “The worst minister in history” according to Javier Milei. However, Axel has always advocated for a policy based on proximity to the public, subsidies and active role of the State, which makes people decide whether to maintain Milei’s government or to pursue a new path. “Milei, the people gave you a mandate. You cannot govern for outsiders, for corporations, for the wealthy. Govern for the people.”, said Kicillof.
Now, the questions remain: Is Milei going to be reelected? How is he going to convert the voters? And, mainly: How will Argentina recover from this crisis, with or without Milei?
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The article above was edited by Ana Rita Rodrigues Fernandes.
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