Hopes of a better economy prevailed

Argentine society has suffered a great deal of pain over the years, which is revealed in the painful data about Intec socioeconomic reality: poverty that affects more than 4 out of every 10 Argentines and 6 out of 10 children in urgent need, a hand that gives them not only food, but education, a home and a horizon.

However, this situation has worsened at a faster pace since the 2001 crisis, especially in the last 15 months, rather than dragging on. The recovery of workers’ and retirees’ purchasing power is deteriorating, and so is growing pain and fatigue.

A particularly strong manifestation is the worst increase announced for retirees, pensioners and recipients of extraordinary family allowances since December: 20.8% without bonuses, against the reference quarter’s inflation rate of 35%, and the same for the next.

A similar phenomenon was observed in the case of workers, since the processes of acceleration of inflation always severely affect the purchasing power of salaries, which are adjusted on the basis of the past, and currently prices rose with less intensity.

The president-elect is known only for his iron-fisted concern to control inflation and eliminate ethical and discretionary policies that have been shown to benefit the few and harm the many.

Now, the challenge is not only to carry out the transition by December 10 without worsening the socio-economic situation, but also to provide concrete signals with a group of collaborators and instrumental measures that will lead to a quick recovery of the confidence of more than 55% of voters. This Sunday gave him, but also from the world of “unemotional” markets, which respond to a government with heart but not with pocket.

Strong disruptive rhetoric at the economic level, such as shutting down the Argentine Republic’s central bank, helped Mili reach the presidency, but it is clear that he must shut down the money-emission machine to fund the treasury to sustain himself. Lack, and begin Restore the value of the peso through strong fiscal policy It eliminates unnecessary expenses and minimizes taxes.

This seems to have helped improve the vote of confidence among the electorate, leading to a second general election, toning down the tone of dollarisation, although he remained strong in highlighting that there was “no room for a gradualist policy”. ”, in order not to fall into “the worst crisis in our history”.

Miley has not made much progress on trade policy with the rest of the world, favoring untying the knots that prevent imports from lack of international reserves, but also exports, withholdings and quotas that affect national production and consumption.

Much of society seems to have “bought” the message that “Argentina’s restructuring and transformation will begin”, but now it needs to know the comprehensive economic plan and the search for legislative consensus so that it has laws quickly. It was necessary to capture “the change Argentina needed,” he highlighted in his first speech as president-elect.

The challenge is enormous because the times to implement the stabilization program and restore the growth trajectory are long, and the needs of the majority of the population are urgent because there is no room to withstand further degradation.

One can hope that he will fulfill his promise of “everything within the law and nothing outside the law”, beginning with re-evaluating the role of the Republic in relation to the separation of powers.