In a bid to tackle economic challenges and reduce the size of government, Argentina’s President Javier Miley has announced plans to cut the salaries of 70,000 civil servants. This move is part of an effort to streamline the government apparatus and reduce spending.
The announcement was met with mixed reactions from the public, with some praising the move while others criticizing it. The Bloomberg agency reported on this development and labeled Miley’s approach as “chainsaw economics” due to his use of a chainsaw during rallies.
During his inauguration ceremony in December 2023, Miley delivered a keynote speech where he emphasized the need to reverse decades of decline and implement shock therapy to address economic challenges. He promised to reduce public debt and tackle inflation, which had soared to 140%. This marked a significant shift in economic policy under his leadership.
Miley has often been compared to former US President Donald Trump and Brazilian President Jair Bolsonaro due to his bold approach to governance. However, he has also stressed the importance of unity and cooperation in addressing economic challenges, echoing the sentiments expressed by previous Argentine presidents.