Post by account_disabled on Feb 20, 2024 9:13:55 GMT
Tolls, prepaid bills, gasoline, private school tuition, telecommunications fees, rent. These are the increases that are already underway. But others are coming: starting tomorrow a process of eliminating subsidies could begin that will cause sharp increases in electricity and gas bills and in train and bus fares. The fictitious dollar will also come to an end: the new government will order a notable jump in the North American currency that will shake the markets and will seek to narrow the gap that exists between the official dollar and the blue, which today reaches 150%. It is assumed that the new price will be automatically transferred to supermarket shelves.
There will no longer be repressed inflation. Prices Mexico Mobile Number List Be careful, less. The scenario that arises is complex. Scholars of Argentine economic history wonder if this is the heaviest inheritance that a president has received in a democracy. Poverty reaches 44.7%, according to the latest UCA report: ten points more than when Alberto Fernández and Cristina Kirchner took office and is expected to continue increasing. Interannual inflation accumulates 142.7% - triple that left by Mauricio Macri - and could close around 180. The parallel dollar, which Alberto charged at $63, closed on Friday at $990. The Central Bank's situation is overwhelmed: in December there were 13 billion net reserves and it is estimated that they are currently negative 12 billion.
With an aggravating factor: the public debt went from an equivalent of 323 billion dollars to 419 billion dollars in four years. On these ruins, with a political party in formation and a precarious legislative panorama, Javier Milei proposes taking his first steps with a monumental economic adjustment. An unprecedented shock that implies reducing five points of the Gross Domestic Product in just one year. That is to say: he plans to cut expenses between 20 and 25 billion dollars. What is known about this initiative is that there will be an adjustment in political expenses, that the ministries will be reduced by half - there will be nine - and that all ministers will be forced to a drastic reduction. Whoever does not comply will leave, says the new president.
