Argentina's Radical Economic Reforms

Javier Malé, President of Argentina, has implemented radical economic reforms aimed at addressing the country's severe inflation and economic decline. Since taking office, he has drastically reduced government spending by slashing the number of ministries from 18 to 8 and cutting public salaries, university funding, and transfers to provincial governments. This aggressive approach has led to a significant reduction in inflation from 13% to 3% month-to-month within a year and established a primary surplus in his first month in office, which is a rarity for Argentina. Despite the benefits of these cuts, such as increased popularity among voters, they have also resulted in a recession and a rise in the national poverty rate, highlighting the complex balance of economic reform and social impact.