Javier Miley reduces expenses with state-owned companies by more than half

Javier Miley reduces expenses with state-owned companies by more than half

During his election campaign for the presidency of Argentina. Javier Miley He promised to reduce public spending as much as possible. In fact, the image of the candidate holding a chainsaw has become a symbol of the anti-nationalization spirit in the neighboring country. Companies in sectors such as air transport and railways did not receive a single cent from Miley's government in the first two months of 2024.

According to data released by the Congressional Budget Office (OPC(abbreviation in Spanish), During January and February, the Argentine government transferred US$300.6 billion to state-owned enterprises. But although this number seems high, it represents a 53% decrease compared to the same period in 2023. According to the newspaper the worldIn the neighboring country, there are 10 companies that did not receive a single cent from the Miley government in these two months.

The state-owned company Enarsa, which supplies electricity, received $178 billion from the treasury, representing about 60% of treasury transfers. However, these resources still represent 45% less than what the state-owned company obtained in the same period last year. Of the 29 companies mentioned in the OPC data, only three received more than they did in 2023: Educ.ar, Ferrocarriles Argentinos, and Fadea.

Javier Miley, President of Argentina
Miley wants to reduce state bureaucracy in Argentina | Photo: Reproduction / Social Networks

The government of Javier Miley and privatization in Argentina

According to the organic law, the Miley government wants to privatize the following companies: Aerolíneas Argentinas, Enarsa, Radio y Televisión Argentina, AySA, Correo Argentino, Belgrano Cargas y Logística, Sociedad Operadora Ferroviaria, Corredores Viales, and Yacimiento Carbonífero Río Turbio.

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While potential privatizations are progressing at Casa Rosada, it remains in accordance the worldAll state-owned enterprises must remain under the supervision of the Prime Minister, Nicolas Bossi – to whom Miley granted the rights to appoint and dismiss directors, determine expenditures, investment plans, as well as transfers from the treasury to state-owned enterprises. The liberal Argentine government wants to reduce state bureaucracy in favor of greater freedom for citizens.

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