The new right wing elected president of Argentina to privatized public companies, media and reduction of ministries
The elected Argentine president, right-wing populist Javier Milei, gave his first indications about his strategy to change the economy, which is considered the second largest in South America.
Javier Milei won 55.7% of the vote in the presidential election, against the left candidate, Argentinian minister of economy, Sergio Massa, who received 44.3% of the votes.
Milei announced his intention to accelerate the privatization of state media and other public companies.
Speaking to local Radio in Buenos Aires, he stressed that everything that can be transferred to the private sector will be transferred, and described the media outlets that he wants to transfer to private companies as being a “secret ministry of propaganda”.
Milei’s victory raised questions about whether his vision could be realized without significant support from Argentina’s National Congress, where his party holds a small share in parliament.
However, some analysts believe his landslide victory could give him leverage to help him achieve his goals.
Milei also confirmed his intention to implement radical reforms, such as reducing the size of the state and combating inflation, which has reached three figures.
This includes reducing the number of ministries to eight and closing the central bank, with a possible shift to dollarize the Argentinian economy.
Economically, Milei expects to achieve a reduction in inflation during half of his presidential term, which may last 18-24 months.
He also intends to privatize the state energy company, stressing the importance of shoring up its finances before the sale to ensure maximum benefit for Argentine citizens.
However, Milei faces legal challenges, as some experts consider that his privatization plans may conflict with Argentina’s constitutional model, and may require laws to be passed by Congress to implement them.
Milei must also negotiate and ally with the opposition to achieve his goals given his relative control in the Argentinian congress.
