FX.co ★ Javier Milei: president to bring welfare to his country?

Remarkably, President of Argentina Javier Milei declared that good times have arrived for the country. This incredible optimism comes despite economic challenges and geopolitical chaos. According to the Argentinian leader, the national economy has begun to grow at a confident pace, with the minimum wage in the country increasing nearly fourfold.

In Milei's words, "Argentina's economy has overcome difficult times" and is now demonstrating growth. Recently, the President reflected on his first year in office, noting that the country is now "emerging from the desert" after recently "passing through the fire."

Earlier, Milei was nicknamed the "Chainsaw President." During his campaign in 2023, he famously brandished a chainsaw to symbolize his pledge to cut government spending and tackle inflation. According to Milei, the preliminary results of his policies are promising, and he believes "the future will only get better."

The President expressed gratitude to citizens for their trust, emphasizing that Argentina's economic situation is picking up steam. Against this backdrop, the minimum wage soared from $300 to $1,100. "Happy times are coming to Argentina," the policymaker concluded.

Upon assuming office in late 2024, Milei warned that the situation might worsen in the short term, with positive results appearing later. His administration subsequently implemented measures such as peso devaluation and other radical economic policies. However, these measures from the libertarian president resulted in a surge in poverty, which nearly doubled from 9.6% to 17.5%.

The flamboyant Argentinian leader, who initially promised to shut down the central bank and adopt the US dollar as the national currency, later revised his strategy. He was forced to make compromises with the political establishment. According to Guillermo Francos, Argentina's Chief of Staff, Milei finds it difficult to navigate Argentinian politics because he has no idea about it.

Milei's foreign policy has also faced challenges. Patricio Giusto, director of the China-Argentina Observatory think tank, remarked that Milei's first year in office shows that his foreign policy is "ideological and insufficiently pragmatic." Argentina's decision to withdraw from BRICS is the clearest example of this stance, the analyst argues.