The President of Argentina has prepared more than 300 “shock” reforms for the country
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The President of Argentina is trying to avoid disaster in the country through “shock” reforms
Inflation in Argentina over 30 years exceeded 211%. Argentine President Javier Miley has prepared almost 300 amendments to laws and regulations. The authorities are moving towards austerity in all areas to avoid disaster. But experts think differently.
Thus, the head of the country, who was elected on December 11, has already banned export restrictions, abandoned price regulation and government non-interference in a number of industries. The changes will also affect working conditions. The probationary period will be increased to eight months, a 12-hour working day will be legalized, maternity leave and compensation upon dismissal will be reduced.
The economic situation in the country worsened due to “shock” reforms, in particular the devaluation of the national currency by more than half from 366 to 800 pesos per dollar.
According to Buenos Aires lawyer Javier Abram, prices in the country have increased very strongly. The cost of gasoline increased from P350 to P700 per liter. Metro – 100 pesos, bus – 50. Six months later, the authorities announced that utility bills would be increased sevenfold.
In addition, Miley wanted to convert the country to the dollar. Economists say that in this situation it is necessary to abolish the Central Bank and come under the control of the Federal Reserve System, which will de facto include Argentina in the US economic circuit.
Experts believe that such irresponsible government management led to the fact that Argentina was unable to realize its economic potential and turned from a completely prosperous country into a bankrupt one.
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