- Title: Argentina deregulation tsar: Milei's 'chainsaw' cuts to go deeper in 2025
- Date: 29th January 2025
- Summary: BUENOS AIRES, ARGENTINA (JANUARY 28, 2025) (REUTERS) ARGENTINE MINISTER OF DEREGULATION AND STATE TRANSFORMATION, FEDERICO STURZENEGGER, SHOWING DOCUMENTS WITH SPENDING CUT LAW PROPOSALS HE MADE DURING THEN ARGENTINE PRESIDENTIAL CANDIDATE JAVIER MILEI’S CAMPAIGN VARIOUS OF STURZENEGGER’S PROPOSALS FOR REPEALING LAWS AND SPENDING CUTS (Ed’s note: these proposals were partially or completely included by Argentine President Javier Milei’s first decree, Decree 70/23. This decree changes the normative framework of the Argentine government and economy, deciding, for example, the complete privatization of the publicly owned companies.) STURZENEGGER TALKING ABOUT THE DOCUMENTS THAT ARE PART OF DECREE 70/23 (SOUNDBITE) (Spanish) ARGENTINE MINISTER OF DEREGULATION AND STATE TRANSFORMATION, FEDERICO STURZENEGGER, SAYING: "Our work focus and the focus given by the president is very clear. He tells us, our goal is a non-negotiable fiscal balance under any circumstances, executed through reduced spending. So he tells us, tells everyone: in 2025 we have to keep using the chainsaw, we have to keep cutting spending because we want to remove the state from the middle and ensure economic freedom." STURZENEGGER DURING INTERVIEW WITH REUTERS (SOUNDBITE) (Spanish) ARGENTINE MINISTER OF DEREGULATION AND STATE TRANSFORMATION, FEDERICO STURZENEGGER, SAYING: "So we created a matrix of what to keep and what to cut. Now, we're going with what we call the “deep chainsaw” into each area asking, what do you do? And checking if you're on the list of things we said yes to or no to. If you're on the no list, then that area needs to be shut down."
- Embargoed: 12th February 2025 12:37
- Keywords: Argentine economy Budget cuts Deep chainsaw Inflation Public spending
- Location: LA PLATA AND BUENOS AIRES, BUENOS AIRES PROVINCE, ARGENTINA / AUSTIN, TEXAS, UNITED STATES
- City: LA PLATA AND BUENOS AIRES, BUENOS AIRES PROVINCE, ARGENTINA / AUSTIN, TEXAS, UNITED STATES
- Country: Argentina
- Topics: Budget/Taxation/Revenue,South America / Central America,Government/Politics
- Reuters ID: LVA001695428012025RP1
- Aspect Ratio: 16:9
- Story Text: Argentina's deregulation minister, Federico Sturzenegger, announced to Reuters on Tuesday (January 28) plans for deeper budget cuts in 2025, emphasizing a non-negotiable fiscal balance through reduced spending.
Sturzenegger outlined a strategy involving a detailed review of government functions to identify areas for elimination. He highlighted the importance of minimizing state intervention to foster private sector-led economic growth.
President Javier Milei, elected in 2023, has been a vocal advocate of these cuts, even using a chainsaw as a symbol of his policy approach and publicly expressing his disdain for the state.
"There's a lot of curiosity over what we are doing," said Sturzenegger who earlier this month was invited by the International Monetary Fund (IMF) to join an advisory board on deregulation, underscoring Argentina's rising influence.
Milei's government was granted extended "administrative, financial, energy, and economic" powers by the Argentine Congress in June 2024 for one year to proceed with spending cuts, among other decisions, without the approval of the legislative power.
Argentina has become a rare live test case of libertarian free-market economics and deregulation, drawing attention globally including from Trump's new U.S. administration, Musk and Italy's Prime Minister Giorgia Meloni.
(Production: Horacio Soria, Juan Bustamante, Hugo Monnet) - Copyright Holder: REUTERS
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