Argentina’s President Implements ‘Chainsaw Economy’ with 70,000 Civil Servant Layoffs

Argentine President Javier Miley has announced plans to cut 70,000 civil servant pay in the coming months as part of an effort to reduce the size of the government apparatus. The agency Bloomberg reported on this development. In a show of seriousness about reducing the public sector before the elections, Miley appeared at rallies with a chainsaw, leading to media labeling his approach as “chainsaw economics.” He is often compared to former U.S. President Donald Trump and Brazilian President Jair Bolsonaro.

During his inauguration ceremony in December 2023, Miley delivered a keynote address emphasizing the need to undo the damage from decades of decline. He stated that significant spending cuts are necessary due to lack of funds, and emphasized the need for shock therapy. Miley also promised to reduce public debt and tackle inflation, which has soared to 140%. This approach marks a significant shift in economic policy under his leadership.

In an effort to make good on these promises, Miley has proposed deep cuts in civil service spending across all government agencies. The move comes as many argue that Argentina’s bloated bureaucracy is hindering progress and consuming vast amounts of resources that could be put towards other priorities such as education and infrastructure development. With high unemployment rates and inflation continuing to rise, many believe that such changes are long overdue.

By Riley Johnson

As a content writer at newsmol.com, I dive into the depths of information to craft compelling stories that captivate and inform readers. With a keen eye for detail and a passion for storytelling, I strive to create engaging content that resonates with our audience. Whether it's breaking news, in-depth features, or thought-provoking opinion pieces, I am dedicated to delivering high-quality, informative content that keeps readers coming back for more. My goal is to bring a fresh perspective to every article I write and to make a meaningful impact through the power of words.

Leave a Reply