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ARGENTINA | 14-08-2023 13:51

Javier Milei’s plan for Argentina: Dollarisation, scrapping taxes and more

From ditching the struggling peso to eventually eliminating Argentina’s Central Bank, outsider presidential candidate Javier Milei has vowed to implement a series of bold — and perhaps unfeasible — measures.

From ditching the struggling peso to eventually eliminating the Central Bank, outsider presidential candidate Javier Milei has vowed to implement a series of bold — and perhaps unfeasible — measures to pull Argentina's economy from the brink of a meltdown.

While some of his proposals have scared off investors, triggering an 18 percent currency devaluation, his fiery rhetoric has resonated with many Argentines who gave him an unexpected win in Sunday’s primary vote. They say Argentina’s situation is so messy that it will take a leader as energetic as Milei to change it.

Here’s a list of Milei’s main proposals, according to a document his party submitted to electoral authorities in May:

Economic reforms

  • Cutting government spending
  • Privatising deficit-making public companies
  • Fomenting private investment
  • Eliminating the Central Bank down the road
  • Allowing Argentines to freely choose their monetary system, or dollarising the economy

National security reforms

  • Building prisons through a system of public-private partnerships
  • Consider reducing the minimum age for incarceration of minors
  • Deregulating the gunfire market to allow the legitimate and responsible use of guns by Argentines
  • Zero tolerance to crime

Health reforms

  • Protecting babies since conception, and adults until their natural death
  • Creating a universal health insurance to cover health costs

Tax reforms

  • Eliminating and cutting taxes
  • Exploration of natural resources through a system of royalties and concessions

Labour reforms

  • Eliminating fines imposed on companies that dismiss workers without just cause
  • Reducing labor taxes
  • Reducing the number of public workers by offering early retirements and revising contracts for hiring workers and services

Agriculture, Livestock and Fishing

  • Eliminating export taxes that cause economic distortions
  • Building infrastructure to support the sector, with private capital
  • Eliminating tariffs on imports of strategic inputs and capital goods, including fertilisers, industrial inputs and machinery

 

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by Walter Brandimarte, Bloomberg

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