Devaluation and liberation of prices: this is how the year began with Milei and Caputo. The chainsaw plan and the brutal adjustment to comply with the IMF sank the economy. Lowering inflation was not free. A war plan against salaries and retirements that not only did not recover what was lost during the last Peronist government, but also continued to decline. We put together this summary with the main economic events that occurred in the lives of millions of workers.

A year of notable intensity ends in terms of official announcements, and particularly economic measures, decisions made by the government that affect the lives of the popular majorities. From the economics section of La Izquierda Diario we put together this summary of notes that reflect these events, from a different perspective, of another kind. Showing the contrasts that are generated, where salaries and retirements have been the main adjustment variable. At the same time, the concentrated economic groups continued to increase their profits, because Milei is a “cuddly kitten of economic power.”

  • Devaluation and liberation of prices. At the beginning of the mandate, the 100% devaluation, taking the official dollar to $800, quickly triggered prices, which were already overheated. In December alone, the CPI recorded an increase of 25.5% and 211.4% in the 12 months of 2023.

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    -Down with the DNU and the Omnibus Law. In the face of government attacks, banging of pots and pans and massive mobilizations in the streets, they reject these measures.

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    You may be interested in: Pocket fit. Another increase in prepaid payments in April due to Milei’s DNU: they increase by more than 100% accumulated

  • Poverty. Official data began to capture the consequences of the chainsaw and adjustment plan, which triggered inflation in the first months of the year. An increase in the cost of living for the popular sectors and workers who cannot make ends meet. All poor. Structural poverty continued to consolidate its floor, after the Peronist government of the FDT it had accumulated 41.7%.


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    -Bases Law. The complicity of the right-wing, radical parties and a sector of Peronism allowed Milei to consolidate certain partial victories at the parliamentary level, at the same time that they formalized a brutal adjustment plan with anti-worker reforms, which favored evaders and businessmen.

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    You may be interested in: Omnibus law and tax reform. [Video] Milei wants to raise taxes on workers and lower taxes on the rich and large employers

    You may be interested in: Retirement moratorium. What does the Base Law say about retirements and why is it an attack on women?


    -Exchange gap. The government decided to intervene by selling dollars to stop the rise in financial markets. A measure that contradicts the libertarian discourse of non-intervention, and that seeks to calm the jump in the exchange rate gap generated by the uncertainty of the economic direction, political instability and inflation that is still at high levels.

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    – Zero deficit. Milei’s vetoes against retirees and the increase in the university budget, which began to show massive rejection in the streets against the adjustment.

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    {{{{{You may be interested in: [Universidad. Financiamiento universitario: qué dice la ley que se trata el jueves en el Senado y Milei quiere vetar->https://www.laizquierdadiario.com/Financiamiento-universitario-que-dice-la-ley-que-se-trata-el-jueves-en-el-Senado-y-Milei-quiere”>Congreso Nacional. Julio Pérez: “El gobierno lo único que no quiere auditar es la deuda con el FMI”


    -Presupuesto 2025. El año termina sin el tratamiento en el Congreso de la Ley de leyes, esto implica prorrogar el presupuesto actual. El proyecto del Gobierno proponía más ajuste al servicio del FMI.

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    -Where is Milei’s economy going? This debate went through much of the second half of the year, in which there were no clear prospects for recovery. Inflation continued to decline, but consumption continued to sink due to the deterioration of wages. The nodal problems remained latent, despite the exchange rate calm achieved with the burning of reserves. Truncated story: public debt grew by US$93 billion in 2024: without fiscal deficit and a strong adjustment underway.

    You may be interested in: Special report. Where is Milei’s economy going?

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    -The caste was you. In this special we analyze the winners and losers in the first year of the LLA government. We have the opinion of different economists such as Martín Kalos, Candelaria Botto, Martín Schorr, Claudio Lozano and Luis Campos.

    You may be interested in: Special Report. Winners and losers in the first year of Javier Milei’s government

    You may be interested in: The caste was us: a year of chainsaw to the working class

    You may be interested in: Interviews. A year of Milei: Candelaria Botto and Martín Kalos talk about the winners and losers of the “model”

    You may be interested in: Special. One year after Milei: “And if it turns out well”… for whom?

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    Nothing good for the working people can be expected from this government, which accelerates the adjustment to comply with the IMF and benefit the large national business community. Peronism does not seek to break with the scourge of foreign debt and maintains an agenda aligned with servile extractivism, it is not that way. The path is to consolidate a social force of the sectors in struggle, of workers, retirees, students and women; coordinated from below. Let him face the adjustment plan and propose to put in place a different alternative to all the recipes that have already failed, prioritizing the interests of the working class over capitalist profit.

    • Image: Red Focus

    Economy / National Economy / Dollar / Devaluation / IMF / Inflation / Poverty / Retirements / Fiscal adjustment / Luis “Toto” Caputo / Javier Milei / Bases Law

    Source: www.laizquierdadiario.com

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