Milei, from Spain: “The economy is recovering”

On a new trip to Spain as part of the presentation of the “Juan de Mariana 2024 award for an exemplary defense of the ideas of freedom” at the Real Casino de Madrid, Argentine President Javier Milei highlighted the surplus of recent months and said: “The economy is recovering.” While thousands of Argentines face the adversities of an economy that still does not reflect positive results on a day-to-day basis, the numbers handled by the government are in contrast to this reality. With the fiscal surplus exposed by Milei’s administration in recent months, the president was sure of the recovery of the economy during his visit to Spain. In the indicators of April and May there is a rebound, the economy is recovering,” he said in the first place. In this line, he added: “From being the most pressing problem in Argentina, inflation has now come in third place. Let them come and tell me that it can’t be done, because it can be done.” Then, he praised the budget adjustment he has made since the beginning of his administration and detailed the numbers that predicted a dark future in economic matters for the country. We made the largest fiscal adjustment in the history of humanity. At the beginning, we knew that we had to stop the monetary issuance. In the first week of December, prices grew at 1% per day. That is, at 3,700% per year. In the first days of December it had accelerated at the rate of 7,000% per year. When they take inflation, December’s inflation was 54%. That annualized gives 17,000%,” he commented. In this way, the president pointed out the impact of the current numbers on the economy of every Argentine. “I understand that the inflation of 3.5% last month is a frighteningly high number and that annualizing it means 50% per year. The truth is that going from 17 thousand to 50 without having the hyper in the middle, without having price controls, without setting the exchange rate, and without having expropriations, is an incredible adventure,” Milei said.

Original source in Spanish