I love me a man who hates bloated government and taxes. With less than a year under his belt as president, Argentina is already seeing benefits from Javier Milei's policies when it comes to the economy.
And all the cuts have done exactly what Milei promised during his chainsaw-wielding campaign -- the country's economy is starting to come back to life.
The Daily Wire reports:
Staunchly libertarian Argentinian President Javier Milei's economic plans are proving enormously successful, as the country's inflation plunged to 2.7% in October, the lowest level in three years.
Milei was elected roughly one year ago, but the measures he has taken have revivified the once-crippled Argentinian economy, where inflation dropped in October to 2.7% after registering at 3.5% in October. Milei had promised to lower inflation to less than 3% before the end of 2024.
"We are decreasing the tax that creates the most distortion: inflation," Economy Minister Luis Caputo stated.
In 2022, the Argentinian inflation rate was 72.43%. Barrons reported that when Milei took office last December, "monthly inflation leapt by 25.5 percent after he devalued the peso by more than 50 percent. It has since been on a downward trajectory, coming in at under five percent each month since May. ... Milei, who wielded a chainsaw on the campaign trail last year as a symbol of his plan to slash public spending, has cut energy and transport subsidies and thousands of public sector jobs."
"We are emerging from the desert, the country is starting to grow again," Milei declared.
Promises kept are my favorite. I hope we see more success from Milei and that Argentina can thrive.