The New President of Argentina announced the Layoff of 5,000 government employees
The administration of the new Argentine President, Javier Milei, announced, Tuesday, a decision not to renew the contracts of 5,000 government employees who were appointed this year before he took office.
This decision comes within the framework of a comprehensive plan aimed at achieving reductions and correcting the value of the currency, which was announced since he took office on December 10, with the aim of revitalizing Argentina’s suffering economy.
The authorities indicated that the contracts of other government employees who were appointed before 2023 will be subject to review.
The 2023 review deadline appears to be aimed at correcting the positions of presidents whose terms expire with a salary increase in their final year.
With inflation expected to rise to 200% by the end of the year, Milei pledged to reduce regulation and payroll restrictions, allowing the privatization of state-run industries with the aim of boosting exports and attracting investment.
Despite previous protests, Milei affirmed his intention to pursue his policy, considering that the goal is to begin the process of rebuilding the country, restoring freedom and independence to citizens, and beginning to change the many regulations that have burdened and hindered the growth of the economy.
Argentina’s new president, announced 300 changes aimed at radical reforms, including transformations in government sectors and improvements in the rights of tenants, employees and shoppers.
These measures include devaluing the Argentinian Peso by 50$, reducing energy and transportation subsidies, as well as closing some government ministries.
Among the notable changes, Javier Milei (53), who is known for his profanity-filled speeches and criticism of the political class, is now the country’s president with the support of Argentines who have lost confidence in the difficult economic situation.
This comes in the context of increasing inflation rates and high poverty rates, as Milei seeks to implement reforms that are the largest in the country’s history to restore economic stability and improve the daily lives of citizens.
