The Milei government and its first steps (particularly cuts). Wholesale prices increased by 40%

While we wait for the announcement of the first package economic measures The document, prepared by the Buenos Aires Ministry of Finance with the intention of repairing Argentina’s troubled public finances, was drawn up by the new president’s government Javier Milei has anticipated some instructions on this subject through its spokesman Manuel Adorni Cuts in public administration. With the reduction of the government cabinet from 19 to 8 ministries and the secretariats from 106 to 54, the executive estimates Reduction in the number of civil servants by 34%.explained Adorni.

In addition to this initiative, the government spokesman announced Suspension of state advertising in the media for one year. These are mainly advertising campaigns aimed at raising awareness of the public policies implemented by the executive in the social and health sectors. This item is currently valued at approx 100 million euros annual expenditure that governments traditionally channel primarily into “similar” media.

Meanwhile, on the other hand, Wholesale prices for goods Delivered to supermarkets and shops at the beginning of the week You’ve already scored Increases of up to 40%, in the context of strong expectations regarding the announcement of an upcoming one Devaluation of currency by the government.

Analysts quoted by the newspaper Clarin expect that the most significant increases will affect basic basket foods for which the price control agreement with the previous government is no longer in force. The latest official findings on theinflation refers to the month of October, with a +8.3% monthly and a +142.7% per year. Based on the price developments of the last few weeks, experts estimate monthly inflation of at least 12% for November.

The press conference of the Minister of Economics, Luis Caputoin which the legislative and reform package for macroeconomic and fiscal restructuring is announced, was announced for 5 p.m. (local time).

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