• Thu. May 30th, 2024

Argentine President Implements “Chainsaw Economy”: 70,000 Civil Servants to be Laid Off

Byeditor

Mar 27, 2024

Argentine President Javier Miley has announced plans to reduce the number of civil servants by cutting 70,000 jobs in an effort to streamline the government. This move is aimed at decreasing the size of the government apparatus, as reported by Bloomberg. Miley’s approach to reducing the public sector was highlighted by his appearance at rallies with a chainsaw, leading the media to nickname his strategy “chainsaw economics.”

As a far-right politician, Miley is often compared to former US President Donald Trump and Brazilian President Jair Bolsonaro. In his inauguration speech in December 2023, Miley emphasized the need for significant spending cuts to address the country’s financial challenges. He acknowledged the economic damage of previous decades and emphasized the necessity of implementing drastic measures to tackle issues such as high public debt and inflation rates reaching 140%.

Miley’s administration is facing tough economic realities, prompting him to take bold actions to address Argentina’s financial woes. The president’s commitment to reducing government spending and implementing shock therapy measures underscores his determination to stabilize the country’s economy in the face of significant challenges. The comparisons drawn between Miley and other right-wing leaders suggest a shared approach to economic policies and governance.

By editor

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