How is it that these actions are yielding opposite results? - page 2.

Helena Yu

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Quote from: Davidvictorson on March 30, 2024, 04:10:28 PM

Can someone who understands the Argentine economy explain what is going on there for me. I was excited when the current president won the election. He then set out to carry out some economic reforms. Some of his economic achievements like a budget surplus and decreased inflation have been impressive.

The inflation rate isn't decreased, actually it's keep increase.

https://tradingeconomics.com/argentina/inflation-cpi

Budget surplus is just a number, Milei haven't achieve anything when he become president. Budget surplus is either the country has very strong economy or the president don't know how to spend the funds, however Argentine is a third world countries and don't have a strong economy, so you know the answer.

If budget surplus is matter, US wouldn't become the strongest country.

Quote from: https://fiscaldata.treasury.gov/americas-finance-guide/national-deficit/

Since 2001, the federal government's budget has run a deficit each year.

moneystery

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i don't really know what the actual situation is in argentina, but as far as i understand, argentina's economic problems are very complex and cannot be resolved in a short time. starting from the problem of inflation, soaring interest rates, recession, and high debt to their gdp, these are the major problems facing argentina today. and coupled with the current political turmoil in argentina, it makes the problem even more complicated.

maybe the currently elected president of argentina has a theory that he will apply to argentina's current problems, but that doesn't mean that he can implement it easily, it might be more difficult than it seems and could make the argentine economy even more chaotic. but whatever it is, i am sure that argentina can get through their dark times.

Don Pedro Dinero

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This is another example of not being clear about the difference between the short term and the long term. Theoretically, the measures that Milei is implementing will have a positive effect on employment and growth, but at least in the medium term.

Right now he is laying off a lot of public employees, therefore less employment and less GDP.

What he wants is in principle to reduce the weight of the public sector in the economy and for the private sector to gain weight, but this will take some time.

And it is not that Argentina's economy before Milei was very buoyant, eh? It was a fucking disaster.

Reatim

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When you have a country that was so deep into crisis
and hardships like Argentina, it would be hard to turn
it all around in just a few months. The good thing here
is that it is already starting. We will see changes soon
but not right now and that doesn’t mean the president is
doing a bad job already.

Churchillvv

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It's just a matter of time, if he is already working on it then it will be resolved sooner than you expect. Just like my country where we have suffered for a very long time now and to change such situations of corruption and inflation it doesn't just come easily it has to do with making policies here and there and hence it will always go the opposite way in the time of implementation.

Because the Argentines have been deep in to this inflation/recession it will take whole lot of jobs to reform the economy or put things in order and the only thing I see wrong is the fact your president (new government) didn't make it clear to y'all that things can't get easy if the don't get hard. So y'all have to bear with him and when the time is due things will begin to change just like here in Nigeria we are beginning to see improvements in price of this recently and that was a result if the hard work of the current government which has promised us good and I believe his working on them gradually.

GeorgeJohn

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Quote from: Davidvictorson on March 30, 2024, 04:10:28 PM

Can someone who understands the Argentine economy explain what is going on there for me. I was excited when the current president won the election. He then set out to carry out some economic reforms. Some of his economic achievements like a budget surplus and decreased inflation have been impressive. But what I do not understand is that some of his policies aimed at slashing government programs and instituting extreme libertarian reforms, is triggering a deep recession and reduction in the purchasing power of the Argentines. How is it that these actions are yielding opposite results? If you understand why this is happening please explain it to me.

a governance is when you have the interest of your people at heart not being biased or not being focused on only political class to do what that will benefit your country when you happen to imagine as controller of that particular country or region, what I'm trying to say is that if you have objective to your people you will execute it when you have your at mind, their one scripture, I read that says that when good one rule people rejoice, so leadership is very diabolical and dynamic, so you can lead your people base on your propose agenda.

yhiaali3

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I read a nice article about it entitled "Miley faces the minefield of Argentine economics, politics and society", that can give an idea about the complex problems facing the new Argentine president.

The economic situation in Argentina is complex, and there are years of wrong economic policy that led to economic instability, as annual inflation exceeded the 200% threshold and poverty levels rose to 40%.

Quote

Miley's presidency, marked by libertarian principles and capitalist ideals, faces the complex challenge of balancing economic liberalization with societal expectations. Austerity measures and privatization plans were not without opposition, leading to protests and even a general strike. The president's rapid actions, including a 50% devaluation of the peso, cutting subsidies, and dramatically downsizing ministries, reflect his confrontational approach to addressing the government's budget deficit and combating inflation.

Therefore, we can understand that these challenges and problems are difficult for any president to overcome easily and require years of reforms.

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My best guess is he needs time. Argentina have suffered decades of terrible leadership applying equally terrible fiscal policies which kept the economy of the country constantly on the decline. Corruption and insecurity have also plagued the country over time. A government no matter how good cannot automatically fix decades of decay in 3 or so months.

We can truly start judging him when the numbers for Q1 and 2 of 2024 start coming in, but even then, the optimism should be kept controlled.

Davidvictorson

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Can someone who understands the Argentine economy explain what is going on there for me. I was excited when the current president won the election. He then set out to carry out some economic reforms. Some of his economic achievements like a budget surplus and decreased inflation have been impressive. But what I do not understand is that some of his policies aimed at slashing government programs and instituting extreme libertarian reforms, is triggering a deep recession and reduction in the purchasing power of the Argentines. How is it that these actions are yielding opposite results? If you understand why this is happening please explain it to me.

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