Argentina’s President Milei Unveils Drastic Austerity Plan, Cuts 70,000 Government Jobs

Argentina’s President Javier Milei unveiled plans to slash 70,000 government jobs as part of austerity measures amidst the country’s deepening economic woes.

Speaking at the International Economic Forum of the Americas in Buenos Aires, Milei outlined his “chainsaw-style” approach, which includes suspending public works and cutting provincial budgets and social welfare programs.

While facing criticism, Milei assured that social policies won’t be neglected, with increased subsidies for food and schooling.

Casa Rosada clarified that the layoffs are under review and will be implemented gradually. Milei’s aggressive policies aim to restore public trust and boost economic optimism, emphasizing the importance of fiscal balance and denouncing socialism’s failures.