Milei vigorously defends economic model, dismisses criticism of deregulation

President Javier Milei delivered a robust defense of his economic policies and deregulation agenda, spearheaded by Federico Sturzenegger, during a nearly hour-long address. Without acknowledging any self-criticism, Milei downplayed the impact of company closures and declining consumption. He also challenged assertions that unemployment has increased and that wages are not keeping pace with inflation.

"I am going to expose the precariousness and analytical poverty of Argentine economists in their analyses," Milei declared, employing irony against his detractors. He suggested that Argentina's 100-year history of economic decline might have left analysts with "rather rusty tools." The president arrived at the event shortly before 1 p.m., following Foreign Minister Pablo Quirno's remarks.

Milei's speech, delivered in a more subdued lighting setting, aimed to counter criticism from the opposition and emerging public opinion studies that point to growing social discontent with his administration. He expressed hope that Argentines would not "want to return to the past and want to be Cuba," repeatedly criticizing "leftists," "green handkerchiefs" (referring to abortion rights activists), media outlets, and economists who diverge from his economic outlook. He linked the Law for Voluntary Interruption of Pregnancy to the declining birth rate, stating, "If a characteristic of growth is capital return, what happens in the labor market and population is also important. In fact, we are paying dearly for the madness of the green handkerchiefs."

He contrasted inflation figures from previous administrations with the latest wholesale inflation data from INDEC, which stood at 0.8%. Milei promised to hold a concert, as he had previously pledged, to celebrate this low inflation figure. He also highlighted a drop in the country risk to 80 points, predicting it would generate "value creation," despite the current country risk being around 500 points. Dismissing claims that "people can't make ends meet," which even some cabinet members acknowledge, Milei stated, "As companies appear, others disappear; it's natural. Resources are reallocated as economic conditions change."