OAN’s Abril Elfi
11:20 AM – Wednesday, December 27, 2023
Argentinian President Javier Milei has announced that he will not be renewing the contracts of thousands of government employees.
On Tuesday, the Libertarian’s office announced that his administration would not be renewing the contracts of 5,000 government employees hired before Milei took office.
The move is a part of his plan to transform Argentina’s struggling economy.
According to officials, contracts for other government workers hired before 2023 will be examined. It appears that the 2023 deadline is intended to combat the custom of departing presidents inflating their final year’s salary.
With an estimated 200% inflation rate by year’s end, Milei has promised to cut back on payrolls and regulations while permitting the privatization of state-run businesses in an effort to increase investments and exports.
The new cutbacks have caused many protests, but Milei stated that he will continue to “rebuild the country.”
“The goal is (to) start on the road to rebuilding our country, return freedom and autonomy to individuals and start to transform the enormous amount of regulations that have blocked, stalled and stopped economic growth,” he said.
About 300 of the previously announced changes would weaken consumer, employee, and renter protections and target numerous government-owned businesses for privatization.
The actions include closing certain government ministries, slashing energy and transportation subsidies, and devaluing the Argentinean peso by 50%. They coincide with both rising rates of poverty and inflation.
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