Argentina's president attacks socialism in Davos and warns of its dangers, economic news

Count the presidents of Argentina Javier Milly Speaking at a forum meeting today (Wednesday), he said socialism posed a threat to the West davos The world's political and economic elite gather here.

In November last year, during his first trip abroad since his election, Milley criticized the concepts of “social justice” and “radical feminism” while praising entrepreneurs, calling them “heroes” at a World Economic Forum meeting in the town. Voss, in the Swiss Alps.

“I'm here to tell you today that the West is in danger,” Milley said, declaring free market capitalism the only viable solution to poverty.

The West is in danger, he added, “because those who are supposed to defend Western values ​​are given a worldview that inevitably leads to socialism and then to poverty.”

Argentina's president, who traveled to Switzerland on a commercial flight as part of an austerity plan, accused the Davos forum of being “tainted” by a socialist agenda.

Milley said “hero” entrepreneurs should not fear the “political class” and “parasites that live outside the state,” continuing, “The state is not the solution. The state is the problem.”

“You must know that from now on you can unconditionally count on Argentina as an ally,” he told business leaders, concluding his speech with the slogan “Long live freedom.”

Milley plans to meet with president in Davos International Monetary Fund Kristalina Georgieva.

and you condemn Argentina $44 billion to the International Monetary Fund, which welcomed Milley's decision to lift the previous government's price controls on some commodities.

The Economist reported that the economic situation faced by Argentina’s new president is much more difficult than any president in recent years.

She reports that the situation in Argentina is dire and is expected to reach… Inflation rateBy 2024, the country's poverty rate will reach 200%, with 4 out of 10 Argentines living in poverty.

The newspaper reported that Argentina’s public debt accounts for 90% of its GDP and its fiscal deficit accounts for about 10% of its GDP.

The newspaper said the Milley government will have to take 3 emergency economic measures: first, rapid austerity to reduce the fiscal deficit, and pensions and fuel subsidies are clear areas they should target. Second, liberalize the exchange rate system, although this will lead to currency devaluation and stimulate inflation. Third, the country needs to restructure its debt and reduce it to sustainable levels.