The new president of Argentina "shocks" the voters: The state has no money

2023-12-11 17:25:42 / BOTA ALFA PRESS

The new president of Argentina "shocks" the voters: The state has no

Argentina's new far-right president vowed to pursue a shock economic treatment in his first speech after officially taking office.

Javier Milei warned the Argentinians that "the state has no money" and therefore will implement severe austerity measures.

The populist leader unexpectedly won the November election in the Latin country, with promises to revive the country's battered economy. But things are proving more difficult than he thought.

Milei said that he would undo "decades of degradation" of the state by cutting expenses, in order to reduce the high public debt and inflation, which is currently over 140 percent.

"The red line is that there is no other alternative than austerity measures and a shocking treatment", declared the president.

"We know that in the short term the situation will worsen, but then we will see the fruits of our efforts," he added.

The swearing-in ceremony was held on Sunday. It was attended by numerous populist figures such as: Hungarian Prime Minister Viktor Orban; the head of the Spanish radicals Santiago Abascal; former Brazilian president Hair Bolsonaro; etc.

Ukrainian President Volodymyr Zelensky was also present, who had the opportunity to briefly discuss with Prime Minister Orban, who openly opposes Ukraine's rapprochement with the EU.