President Javier Milei says currency controls in Argentina could be lifted as soon as mid-year “if everything goes well.”
The La Libertad Avanza leader, who appeared at the Expoagro 2024 exhibition in Buenos Aires Province on Tuesday, also revealed that he hopes February’s inflation rate will be around 15 percent, providing further evidence that consumer prices hikes are slowing.
Milei, 53, spoke to a closed auditorium of nearly 150 agricultural producers, about taxes, inflation, currency restrictions and the future of the economy at the event at the San Nicolás fairground and racing circuit.
His visit to Argentina’s premier gathering of mass agricultural producers and farmers restored a presidential tradition that had been discontinued by Peronist former president Alberto Fernández during his 2019-2023 administration.
In comments that were reported by third parties who were not present at the private meeting, Milei reportedly detailed his government’s economic plan.
“Once fiscal numbers improve, this will open the door for us to start lowering taxes at an increasingly faster rate,” he said in comments reported by the Noticias Argentinas news agency.
He also told rural leaders that inflation in February would be around 15 percent and that Argentina’s strict currency control regime might be lifted mid-year “if everything goes well.”
Milei arrived at the San Nicolás racing circuit on a helicopter on Tuesday at noon. There was much euphoria at the venue given his presence and before he arrived there was a large security operation involving the Federal Police and Buenos Aires Province Police Force.
The president was accompanied to the event by deputy José Luis Espert, who sat by his side while delivering his speech to businesspeople and producers, in which he confirmed the continuity of the economic plan.
Expoagro 2024, which was also attended by Interior Minister Guillermo Francos, General Secretary to the Presidency Karina Milei and Presidential Spokesperson Manuel Adorni, brings together the most influential voices in agricultural production and technology.
Milei began his talk at the behind closed doors encounter by highlighting the importance of the sector and its role as a promoter of economic development. He then reviewed the situation of the economy and the depth of the economic crisis.
The president said his reform plan and strict austerity approach is stabilising the economy, showing confidence in his government and its measures.
“As a result of this set of measures, inflation falls. When inflation in December was 25 percent, it was a success because the truth is prices retracted by the second week. Apparently, this month it will be 15 percent,” he declared.
“The idea is that, insofar as the economy starts to expand, instead of doing what other governments did and take that improvement to turn it into an increased public expenditure, we will use that money to give it back to its rightful creators, entrepreneurs and decent people, to keep it from our nasty politicians,” he reportedly said.
Referring to the removal of price controls, Milei expressed confidence that inflation would slow once they regularise. “Once the economy is rationalised, they will remove currency restrictions,” he added, saying it could happen mid-year.
More than 600 speakers were listed to appear at Expoagro 2024, which started on Monday with a dinner featuring the presence of governors from several inland provinces: from Buenos Aires, Axel Kicillof; from Córdoba, Martin Llaryora; from Entre Ríos, Rogelio Frigerio; and from Santa Fe, Maximiliano Pullaro.
Kicillof, an affirmed opponent of President Milei’s government, spoke on the same day he delivered a speech marking the beginning of normal sessions at the Buenos Aires Province Legislature.
“We’ve always been made very welcome here and we always take a series of concerns, proposals and ideas from here which, in many cases, we’ve been able to apply to government policy,” said the former economy minister and Kirchnerite leader.
The governor asked to put past differences between agricultural producers and Peronist governments to one side.
“It’s impossible to rule [Buenos Aires] province by turning your back on the countryside and thinking only about Greater Buenos Aires or industry,” he declared.
Córdoba Province Governor Martín Llaryora, in his own speech, repeated his request for the National Government to eliminate agricultural export duties for the farming sector.
– TIMES/PERFIL/NA
Comments