Argentina fights with inflation: President Milei sees positive developments

Argentina fights with inflation: President Milei sees positive developments

Argentina's struggle against the high inflation rate

The monthly inflation rate in Argentina shows a slight increase in what President Javier Milei interprets as a positive development. Despite a still alarming annual inflation rate of 271.5 percent, monthly inflation decreases significantly compared to the previous months. Experts attribute this decline to slower money creation and lower consumption, especially since the country is in a serious economic crisis.

Argentina is fighting one of the highest inflation rates in the world, which is reinforced by a bloated state apparatus, low productivity of industry and a shadow economy. President Milei relies on a radical savings program that includes the cancellation of thousands of positions in the public service, the reduction of subsidies and the abolition of social programs.

According to the Catholic University of Argentina, almost 56 percent of people in Argentina live below the poverty line, while around 18 percent live in extreme poverty. These alarming numbers illustrate the urgent need to tackle the economic problems of the country and take measures to improve the living conditions of the population.

President Milei sees the current data as a first step to remedy the country's years of disaster. Despite the long path that lies before Argentina, Milei is optimistic that the current measures will have a positive effect in the long term.

- Nag