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Javier Milei assumes the presidency of Argentina: 'In the short term, the situation will worsen.'
He stated that difficult times are ahead and that 'there is no alternative to the adjustment,' although he emphasized that it is 'the last bitter pill to start the reconstruction of Argentina.'
In a historic event, Javier Milei took office as the President of Argentina, marking the beginning of a new chapter in the country's history. In his first words to his followers on the steps of the Congress, Milei declared, 'Today we conclude a period of decline; Argentina begins a new era.'
In a notable gesture, Milei extended a special greeting to the President of Ukraine, Volodymyr Zelensky, who attended the event. 'Hello, everyone,' expressed Milei, alluding to the song by La Renga that he popularized during his campaign. Zelensky, approaching the steps, witnessed the inaugural speech of the new Argentine president.
Milei addressed the challenging economic legacy, denouncing a situation close to hyperinflation left by the outgoing government. 'No government has received a worse inheritance than we are receiving,' he stated. He emphasized the need for fiscal adjustment and warned about the economic risks facing the nation.
The president, known for his libertarian views, pointed out the challenging inheritance they are receiving: 'No government has received a worse inheritance than we are receiving.' He criticized the twin deficit of 17% of GDP left by the outgoing government, highlighting the difficult economic situation facing the country.
Milei emphasized the need for fiscal adjustment and stated that 'there is no alternative to the adjustment.' He thanked his followers for their support and addressed the economic challenges facing the nation. Before the crowd chanting slogans like 'Chainsaw' and 'Beloved Milei, the people are with you,' the president stressed that monetary policy acts with a lag and that, despite stopping the money printing today, the costs of the outgoing government's economic mismanagement will continue to be paid.
Regarding the economic legacy, Milei warned about the hyperinflation left by the previous government and pointed out the need to work to prevent a catastrophe that would lead to alarming poverty levels.
The new president compared the current situation to the Rodrigazo and raised the risk of an annual inflation of 3,600%. He criticized the exchange rate controls and stated that the excess money in the economy is twice that of before the Rodrigazo, which could lead to disastrous consequences.
In terms of the political situation, Milei denounced the political model that believes 'politics is here to serve politics' and highlighted the importance of a shift to a model that serves the citizens.
The president stated that difficult times are ahead, and 'there is no alternative to the adjustment,' but he emphasized that it is 'the last bitter pill to start the reconstruction of Argentina.' He highlighted that 'today begins a new era in Argentina, an era of peace and prosperity, an era of growth and development, an era of freedom and progress.'
'If Sarmiento rose and saw what they did with education' Milei spoke about the state of education: '6 million children will go to sleep on the streets today. 16 out of every 100 children do not finish school on time and form. That is, 84% do not finish school on time and form. The 70% who do finish cannot solve a basic math problem or comprehend a text,' he asserted.
"In the last PISA assessments, Argentina ranks 66th out of 81 and 7th in Latin America, with Argentina being the first country in the world to eradicate illiteracy. If Sarmiento rose and saw what they did with education," he concluded.
Javier Milei: 'Those who block the streets don't get paid' The president targeted the picketers and warned that 'those who block the streets don't get paid,' referring to social welfare programs.
'A country that allows everything within the law but allows nothing outside the law,' warned the newly inaugurated president to his followers.