The reduction in subsidies for transport and services will apply from 1 January

Presidential spokesman Manuel Adorni said Wednesday that the austerity measures announced yesterday by Economy Minister Luis Caputo “aim to balance the public accounts” and said they are “necessary and inevitable for the structural reform plan” that will be announced in the coming weeks. He confirmed that the reduction in subsidies for transport and services will be implemented from 1 January.” This package of urgent measures is to avoid catastrophe, hyperinflation and to make poverty rates a free sample of what they could be in the event of hyperinflation. Our most urgent goal is zero deficit. The package of measures announced yesterday by Caputo demolishes the fiscal deficit, it aims at the balance of the public accounts,” said the official at a press conference at Casa Rosada.Under the premise that the fiscal deficit “is the mother of all battles,” Adorni reiterated that the fiscal balance “is not negotiable” and resorted to a harsh analogy to account for the inheritance received. They did not leave this government a patient with a toothache, they have left a patient in intensive care on the verge of dying and we are not willing to let that patient die, because that implies seeing levels of poverty never seen in Argentina,” he said. “We are determined to do things well and yesterday was the kick-off of what is to come in Argentina,” he added. He then remarked that “none of this is going to work if we are not credible.” And in line with the axis raised by President Javier Milei in his inauguration speech, he reiterated that the current moment is “extremely critical”. “We don’t mind telling the truth,” he said. Developing story…

Original source in Spanish