Argentina's New President to Dismiss 70,000 Government Staff

Post by: Dr. Amrinder Pal Singh

Argentine President Javier Milei is gearing up to dismiss 70,000 government employees in the coming months, signaling his staunch libertarian approach aimed at reducing the bloated state apparatus.

In addition to the workforce reduction, Milei proudly announced at a recent event his decision to halt public infrastructure projects, trim funding to provincial administrations, and terminate over 200,000 social welfare programs, which he deemed corrupt. These actions form part of his strategy to achieve fiscal equilibrium by any means necessary within the current year.

Milei, speaking at the IEFA Latam Forum in Buenos Aires, described the situation as akin to a blender, alluding to the erosion of wages and pensions due to a staggering annual inflation rate of 276%. He emphasized his readiness to implement even more drastic measures akin to a chainsaw.

Though the number of job cuts represents only a fraction of Argentina's 3.5 million-strong public sector workforce, Milei's actions are likely to encounter resistance from the influential labor unions in the country. Such measures could potentially jeopardize his relatively high approval ratings. Already, one union representing government employees has initiated a strike, while reports indicate that private sector workers experienced the most significant monthly wage decline in at least three decades following Milei's assumption of office in December.

The head of the state workers union, ATE, swiftly responded by declaring a national strike, although specific details were not provided.

Despite the challenges, Milei referenced polls suggesting that Argentines are increasingly optimistic about the economic outlook. Moreover, a recent indicator demonstrated a rise in public confidence in the government, despite the implementation of austerity measures under his administration.

"People are hopeful; they see a light at the end of the tunnel," Milei concluded.

#breakingnews #worldnews #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #Argentina #PresidentMilei #GovernmentWorkers #JobCuts #Libertarian #Austerity #FiscalBalance #LaborUnions #Inflation #PublicSector #SocialWelfare #EconomicOutlook