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Argentine President Milei to Forbes: ‘Lower inflation and other economic reforms’
Argentine President Javier Milei, interviewed by Forbes Argentina, is confident in the country’s economic future and outlines his ambitious reforms
In a recent interview with Forbes Argentina, Argentina’s President Javier Milei said that he expects to bring monthly inflation down to 1.5% by 2025. Milei emphasised that the government has already approved 800 reforms by 2024 and that the change plan envisages a further 3,200 measures. The Argentine leader emphasised that he will continue to reduce existing regulations and continue the privatisation process of various sectors. These efforts are aimed at revitalising the national economy and reducing the burden of bureaucracy.
Tax cuts and greater economic freedom
Milei celebrated Argentina’s progress in terms of economic freedom, stating that the country had climbed 70 places in the world rankings, moving from the worst group to the middle group. Nevertheless, he said that only a quarter of the planned reforms had been implemented, leaving much work still to be done. He reiterated his commitment to eliminate about 90 per cent of the taxes currently in place, maintaining a tax system with no more than six main taxes. This drastic reduction is seen as a key step to boost economic growth and free up resources for investment.
Expansion of the labour market and benefits for pensioners
The economic reform approved in 2024, according to Milei, aims to expand the labour market from 6.5 million to 14.5 million active workers. This increase is designed to improve the social security system and provide more solid support for pensioners. The goal is that more contributors will be able to support the beneficiaries of the social security system, improving the living conditions of those in retirement.
Inflation and poverty: the battle continues
Regarding inflation control, Milei explained that the government plans to further lower the crawling peg (moving parity) rate to 1 per cent, after keeping inflation stable at 2.5 per cent for several months. This, according to the president, will achieve a monthly inflation target of 1.5 per cent. The Argentine President is confident that the reduction in inflation will contribute significantly to the fight against poverty. According to Milei, inflation is ‘the worst tax’ on the most vulnerable citizens, and reducing it will directly benefit the most disadvantaged population.
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