Xavier Miley says he is not panicked by the dollar rising and bonds falling: “He will adapt”

chairman Xavier Miley This Thursday gave a speech at the Agroactiva 2024 exhibition, which took place in the province of Santa Fe, in which he referred to the current economic situation and dedicated several minutes to talking about the increase in the price of the dollar recorded in the last few days and the collapse of the bonds. “We are not panicking,” he assured.

The head of state’s intervention in the event – which he participated in alongside deputy José Luis Espert, who had spoken a few minutes earlier – began after 1:30 p.m. and preceded the main program Area exponents Argentinian who was present at the event.

In this framework, the leader of La Libertad Avanza acknowledged that there had been a jump in the exchange rate and a fall in bonds, but he was calm when explaining the phenomenon This is not due to any financial problem And it will be adjusted in the coming months.

As for why this happened, Miley placed the blame on “the degenerate prosecutors in Congress” and explained in detail how they made these economic changes.

“They are trying to destroy the fiscal surplus. If they achieve this, the solvency position of the state/government falls and, therefore, the bond price falls. What you are seeing in the bond price today is the problem of fiscal slippage trying to break the fiscal balance,” he explained the reasons.

Along these lines, he tried to convey calm and remained firm in saying that the situation will reverse in the coming months. “When they see the May data, when they see the June data and see that the fiscal consequence is serious, the bond numbers will automatically adjust and the exchange rate will adjust,” the president said.

And referring to his opponents he said: “That is why We are not worried about what is happening. And it’s pretty funny to all those apocalyptic serial screw-ups who want things to go wrong so they can validate the fart models they’ve always messed with.”

Regarding the government’s economic plan, Xavier Mailly affirmed that it is carrying out “the biggest reform in history” and that even though there may be setbacks, “there is a high probability that the Base Law will be passed and the DNU will work.”

He also assured that he is on the path to transform Argentina into a country with characteristics more similar to first world European countries than other countries in Latin America such as Venezuela.

“To give you an order of magnitude, the biggest structural reform done in Argentina was done by Menem in the nineties. If you take the DNU and the Basic Law as it is today, this reform is eight times bigger than the one done by Menem. It is the biggest reform in the history of Argentina. Then they say we have no economic program, but this is a burden,” he began about his project.

He then continued with an example: “I’m going to put it quantitatively. What these reforms mean is that we are going to rise 90 notches in economic freedom, that is, we will stop being a country that is or on the way to becoming Venezuela and we are on the way to becoming a country similar to Germany or France or Italy.

At the end of his speech, the President emphasised once again that his aim is to become the country with the greatest economic freedom in the world – citing as an example Ireland, which, despite being the poorest country in Europe, today has a gross domestic product (GDP) per capita of 50% higher than that of the US – and added that growth is already underway, because “we are on the move again and this will manifest itself as a recovery in activity and employment.”