The demonstrations against the economic policies of Argentine President Javier Milei promise to increase in tone as the measures he plans to implement in 2024 become known. One of these is related to the increase in the number of bus tickets, which are expected to increase to around 70 pesos will go to 400 pesos. pesos, which is equivalent to more than half of the minimum wage in Argentina.
The information is provided by the newspaper El Economista, which states that the goal of Milei – elected president in November last year, after taking office on December 10 – is to abolish state subsidies in various services, such as the transport sector.
The government will release details of the cuts to public transport, but the newspaper adds the price of a bus ticket, a trip, in Buenos Aires will be multiplied by six, from less than 70 pesos it will rise to 400 pesos.
“The worst is already being felt in the most remote areas of the capital, where prices have already increased fivefold this month and the cost of traveling twice a day for a month already represents two-thirds of the minimum wage,” writes El Economista.
The president of the Federation of Passenger Transport Workers said in statements to Somos Radio that the government will have indicated that the initial reduction in government transfers will amount to 30% next year.
This reduction in state subsidies and the sharp increase in fuel prices, due to the devaluation of the peso, will mean that the ticket price will increase from the current 53-72 pesos (depending on the distance) to approximately 400 pesos each way, in order to balance the accounts,” explains El Economista.
The same publication also says that this value is expected to rise even further as the government plans to end the vast majority of these state subsidies by the middle of next year.
Javier Milei refuses to renew the contracts of 5,000 employees
On Tuesday, the government of Argentina’s new president announced that it will not renew the contracts of more than 5,000 civil servants who were hired before taking office this year.
The measure is part of a plan of cuts and devaluations announced by Milei to transform Argentina’s economy, which is facing serious problems.
The Argentine president defended the Decree of Necessity and Urgency (DNU), which includes more than 300 measures to deregulate the economy.
With inflation expected to reach around 200% by the end of the year, Milei pledged to reduce government regulations and labor costs and allow the privatization of state-owned industries as a way to boost exports and investment.
The cuts have already led to protests, but Milei has promised to go further.
“The goal is to begin the path to rebuilding our country, returning freedom and autonomy to individuals and beginning to transform the enormous amount of regulation that has blocked, paralyzed and halted economic growth,” said Milei.
The measures announced include a 50% devaluation of the Argentine peso, cuts in energy and transport subsidies and the closure of some ministries. The measures come at a time of rising inflation and increasing poverty.
With Lusa
Source: DN
