Argentina Hits Historic High: Milei Predicts Best Times in a Century

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    Milei says Argentina “entering its best moment in the last 100 years”

        Tuesday, November 12th 2024  - 10:53 UTC










    
        
        “We are already seeing the bubbles of the diver's fart,” the scholar Milei explained         


    Argentine President Javier Milei insisted Monday that his country was “entering its best moment in the last 100 years,” despite what the rank and file may perceive amid soaring prices and dwindling wages. “I say to all private sector players: take advantage of getting on the progress train now because it is cheaper to buy,” added the head of state during a visit to the headquarters of the virtual wallet platform Ualá.

    “We know it has been difficult, it has been hard, but everything that lies ahead is upwards, all good. The country is entering its best moment in the last 100 years,” Milei stressed. In “technical jargon,” Milei underlined that “we are already seeing the bubbles of the diver's fart and in a short time the economy will be flying through the roof, in a good way.” In his view, “the recession is over and from now on it's all about growth.”

Milei also said he believed that Ualá was “living proof that the only way to redeem the poor is more capitalism, more freedom, (and) more innovation.” The head of state also admitted he would rather attend events organized by private investors instead of “inaugurating an expensive and inefficient public work that nobody wants.”
“Do you remember when the politicians of the caste used to get together to inaugurate sewers, (and) hospitals that they had already inaugurated three times?” Milei also recalled while highlighting the drop in wholesale inflation.
“We made the largest adjustment in the history of mankind and the economy suffered only for four months, and that is possible because the adjustment fell on the public sector, not on the private sector, no matter how much they want to sell it otherwise,” he further argued.
Endorsing Milei’s appraisals, the National Institute of Statistics and Census (Indec) is to release Tuesday the data regarding October’s inflation, which is estimated to be around 3%. In September, the Consumer Price Index (CPI) stood at 3.5% for an accumulated 101.6% so far this year and 209% interannually, the Indec said last month.
Last week’s Market Expectations Outlook (Relevamiento de Expectativas del Mercado – REM) report drafted monthly by Argentina’s Central Bank with input from the most prominent economists in the private sector projected an inflation of 3% for October and 2.9% for November, with a slight rebound in December (3.2%), followed by a declining path: 3% in January, 2.8% in February, 2.8% in March and 2.6% in April.