The president spoke to the “markets” in front of a half-empty Congress. He promised them that he would guarantee payment of the fraudulent debt to the IMF and private speculators. With the fiscal shield he will continue to unload the weight of the adjustment on the working and poor people. These are old recipes that have already failed.
Milei gave a predictable speech on Cadena Nacional, but his cryptic and economic rhetoric bored more than one person and sank the ratings. Almost no one saw it.
A complete farce, in short, to speak to “the markets”, big business and the IMF and thus ratify the course of a brutal adjustment to pay the debt.
The only premise he gave for the Budget was “zero deficit”: Faced with the dangers of a new default, Milei announced that he would protect spending, no matter what happens or if we are in the middle of an economic crisis. But these recipes are not new, just like Cavallo and De la Rùa, which ended in a historic crisis in 2001.
You may be interested in: Old failed recipes: Milei presented the Budget with “zero deficit” to pay debt with hunger and adjustment
You may be interested in: Old failed recipes: Milei presented the Budget with “zero deficit” to pay debt with hunger and adjustment
This year, the adjustment plunged us into a huge recession and it is not able to control inflation. The budget presented projects that, doing the same as now, the economy will grow 5% next year!
And not only that, he draws a similar growth for the year 2026 and 2027. An inflation of 18.3% and a dollar at 1,207 pesos for December. More than an economist, Milei is a cartoonist.
The government is hiding the fact that in the coming years the debts owed to the IMF and speculators will be impossible to pay. They amount to more than 15 billion dollars per year.
This adjustment to pay the debt is against retirees, workers, public universities, health, families with unaffordable electricity, gas and transportation bills. That is why it must be confronted with the broadest possible mobilization in the streets, to overthrow the agreement with the IMF.
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Economy / National Economy / Budget / IMF / Deficit / Fiscal Adjustment / Luis “Toto” Caputo / Javier Milei
Source: www.laizquierdadiario.com
