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Image caption, Has President Milei kept his promise to cut government spending?Article information
- Author, Robert Plummer
- Role, BBC News
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10 June 2024
When Javier Milei was campaigning last year to become the president of Argentina, he brandished a chainsaw to symbolise his determination to substantially cut public spending.
Now six months into his right-wing presidency, how is his shock therapy for both the country’s government and economy working?
“The changes our country needs are drastic,” Mr Milei said shortly after being elected. “There is no room for gradualism.”
And he certainly took swift action. In his initial package of measures, he devalued Argentina’s currency, the peso, by 50%, slashed state subsidies for fuel, and cut the number of government ministries by half.
The quick reduction in public spending has helped Argentina swing from a…
