Haddad Claims Milei Is Destroying Argentina's Economy — "60% Of The Argentine Population Living In Poverty"

Haddad Claims Milei Is Destroying Argentina’s Economy — “60% Of The Argentine Population Living In Poverty”

Written by Fabio Lucas Carvalho

Published on 17/01/2025 at 20:54

Updated on 17/01/2025 at 20:55

Foto: CNN

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The Minister of Finance, Fernando Haddad, Makes Severe Criticism of Javier Milei’s Management and Raises Concerns About the Economic Impact in Argentina.

The Minister of Finance, Fernando Haddad, harshly criticized the economic measures implemented by Argentine President Javier Milei in an interview with CNN this Friday (17).

According to Haddad, Milei’s reforms are leading Argentina to an unprecedented economic collapse. He pointed to inflation exceeding 100% and a 4% drop in GDP as evidence of the instability generated. “It is incomprehensible to imagine that Brazil would follow this example. We are talking about 60% of the Argentine population living in poverty“, he stated.

Despite the criticisms, Milei’s government released data highlighting economic advances. Argentina’s Minister of Finance, Luis Caputo, announced that the country recorded its first financial surplus since 2011 and the best primary result since 2009.

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Argentinian Government Released Data

According to Caputo, the primary surplus reached 1.8% of GDP, while the financial surplus reached 0.3% of GDP in 2024. In absolute values, this represents between 18 and 19 billion dollars.

Caputo attributed the results to the reforms led by Milei, including drastic cuts in subsidies, layoffs of 33,000 public employees, and the suspension of price controls. “These measures were necessary to recover macroeconomic stability and promote social peace”, declared the minister on his social media.

Another positive point was the appreciation of the Argentine peso. A specialized consultancy classified the currency as “the best in the world” in 2024, adjusted for local inflation.

In addition, the difference between the official dollar and the parallel dollar, known as “blue dollar”, decreased from 200% to 20%, a significant milestone in the monetary stabilization effort.

The country risk of Argentina, measured by J.P. Morgan, also recorded a significant drop, reaching its lowest level since 2018.

This indicator reflects international investors’ confidence in the country’s ability to pay its debt, showing that, at least for the market, Milei’s reforms are having an effect.

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Celso

#115661

20/01/2025 12:21

Não sei em que mundo o Haddad vive, mas aqui no litoral de SC, nunca se viu tanto Argentino. No comércio saem de sacolas e sacolas cheias.

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Victor

#115278

18/01/2025 17:31

Quem é esse **** de taxadd para falar que o milei tá afundando a economia da Argentina, o FMI(fundo monetário internacional), falou que a economia tá se recuperando!!

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Haddad Claims Milei Is Destroying Argentina’s Economy — “60% Of The Argentine Population Living In Poverty”

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Haddad Claims Milei Is Destroying Argentina’s Economy — “60% Of The Argentine Population Living In Poverty”

The Minister of Finance, Fernando Haddad, Makes Severe Criticism of Javier Milei’s Management and Raises Concerns About the Economic Impact in Argentina.

Argentinian Government Released Data

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The Soviet Union spent 22 years drilling into the Earth’s crust and reached a depth of 12,262 meters — they found water where it was thought impossible, hydrogen bubbling from the rock, granite that is 2.7 billion years old, and temperatures of 180 degrees that melted the drill bits.

Discovery in Africa scares even scientists: a study published on April 23 reveals that the crust in Turkana has become so thin that it could pave the way for the continent’s division and the emergence of an ocean in the future, in a gigantic geological transformation.

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