Javier Milei: First Year In Office
A summary of the speech in 20 quotes👇
Let's go🧵:
A summary of the speech in 20 quotes👇
Let's go🧵:
1) “THE RECESSION IS OVER”
“Today, with pride and hope, I can tell you we have passed the trial by fire. We are coming out of the desert: the recession is over and the country has finally started to grow.”
“Happy times are coming to Argentina.”
“For that very reason, it is a necessary condition that we all take stock of what we have achieved throughout this year, in order to guard and not take for granted what we have worked so hard to achieve.”
“Today, with pride and hope, I can tell you we have passed the trial by fire. We are coming out of the desert: the recession is over and the country has finally started to grow.”
“Happy times are coming to Argentina.”
“For that very reason, it is a necessary condition that we all take stock of what we have achieved throughout this year, in order to guard and not take for granted what we have worked so hard to achieve.”
2) “WE ARE GETTING CLOSER TO HAVE INFLATION BEING ONLY A BAD MEMORY”
“Exactly one year ago, the inflation rate was coming up to an annualized rate of 17,000% in the wholesale index. They set up a hyperinflation that, given the social conditions Argentina was already in, was going to leave a trail of misery never seen before.”
“Today, that same wholesale price index marked 1.2% for the month of October, and it continues to fall. We are getting closer, every day, to inflation being only a bad memory.”
“Exactly one year ago, the inflation rate was coming up to an annualized rate of 17,000% in the wholesale index. They set up a hyperinflation that, given the social conditions Argentina was already in, was going to leave a trail of misery never seen before.”
“Today, that same wholesale price index marked 1.2% for the month of October, and it continues to fall. We are getting closer, every day, to inflation being only a bad memory.”
3) “WE HAVE ACHIEVED A SUSTAINED FISCAL SURPLUS, FREE OF DEFAULT, FOR THE FIRST TIME IN THE LAST 123 YEARS”
“Exactly one year ago, we had 15 points of consolidated fiscal deficit, out of which five corresponded to the Treasury and ten were under the carpet in the Central Bank.”
“Today, we have achieved a sustained fiscal surplus, free of default, for the first time in the last 123 years.”
“Exactly one year ago, we had 15 points of consolidated fiscal deficit, out of which five corresponded to the Treasury and ten were under the carpet in the Central Bank.”
“Today, we have achieved a sustained fiscal surplus, free of default, for the first time in the last 123 years.”
4) “WE HAVE ALREADY ELIMINATED OVER 800 REGULATIONS, AT A RATE OF MORE THAN 2 PER DAY”
“Exactly one year ago, we had an economy that was completely tied up with regulations that complicated everyone’s life and drove away any kind of investment.”
“As of today, we have already eliminated over 800 regulations, at a rate of more than 2 per day.”
“If we consider the Bases Law and the DNU (Necessity and Urgency Decree) as a whole, we have made the largest structural reform in history.”
“Exactly one year ago, we had an economy that was completely tied up with regulations that complicated everyone’s life and drove away any kind of investment.”
“As of today, we have already eliminated over 800 regulations, at a rate of more than 2 per day.”
“If we consider the Bases Law and the DNU (Necessity and Urgency Decree) as a whole, we have made the largest structural reform in history.”
5) “WE WANT TO MAKE 3,200 MORE REFORMS BEFORE THE END OF OUR TERM”
“A year ago, we were among the worst 35 countries in the world in the ranking of economic freedom.”
“Today we are already in the top half of the table and we will not stop until we become the freest country in the world.”
“Our goal is to make 3,200 more structural reforms before the end of our term.”
“A year ago, we were among the worst 35 countries in the world in the ranking of economic freedom.”
“Today we are already in the top half of the table and we will not stop until we become the freest country in the world.”
“Our goal is to make 3,200 more structural reforms before the end of our term.”
6) “FOR US, PUBLIC ORDER IS SACRED”
“Exactly one year ago, having the streets of our cities hijacked by pickets was the norm. Imagine that in 2023 there were over 8,000 pickets, an average of 32 pickets per working day throughout the country.”
“Today, the picketers are afraid to take to the streets, and people can circulate calmly, and rightly so, because for us, public order is sacred.”
“Exactly one year ago, having the streets of our cities hijacked by pickets was the norm. Imagine that in 2023 there were over 8,000 pickets, an average of 32 pickets per working day throughout the country.”
“Today, the picketers are afraid to take to the streets, and people can circulate calmly, and rightly so, because for us, public order is sacred.”
7) “WE KEPT OUR PROMISE TO TAKE CARE OF THE MOST VULNERABLE DURING THE ADJUSTMENT”
“A year ago, we had a system of forced representation, whereby the State forced the most vulnerable to depend on different poverty managers, who forced them to attend picket lines to collect their plan.”
“Today, all social assistance is allocated directly to the beneficiaries, without intermediaries.”
“A year ago, the Universal Child Allowance food card did not cover 60% of the basic food basket. During this year, this doubled in real terms, and today it already covers 100%.”
“In other words, we kept our promise to take care of the most vulnerable during the adjustment.”
“A year ago, we had a system of forced representation, whereby the State forced the most vulnerable to depend on different poverty managers, who forced them to attend picket lines to collect their plan.”
“Today, all social assistance is allocated directly to the beneficiaries, without intermediaries.”
“A year ago, the Universal Child Allowance food card did not cover 60% of the basic food basket. During this year, this doubled in real terms, and today it already covers 100%.”
“In other words, we kept our promise to take care of the most vulnerable during the adjustment.”
8) “A POWER LIKE THE UNITED STATES IS DESIGNING ITS OWN MINISTRY OF DEREGULATION IN THE IMAGE AND LIKENESS OF OURS.”
“Today, the world is once again looking at Argentina for the right reasons. Citizens and investors from all over the world are evaluating the possibility of coming to live here.”
“In economic matters, a power like the United States is designing its own Ministry of Deregulation in the image and likeness of ours.”
“Today, the world is once again looking at Argentina for the right reasons. Citizens and investors from all over the world are evaluating the possibility of coming to live here.”
“In economic matters, a power like the United States is designing its own Ministry of Deregulation in the image and likeness of ours.”
9) “THEY SAID WE WOULD NOT MAKE IT TO JANUARY, BUT WE ARE ALREADY IN DECEMBER”
“A year ago, they said we would not make it to January. Today we are already in December.”
“They needed us to not move fast and not uncover their ‘curros’ (colloquial term from Argentina: scam, rip-off, dishonest activity), but guess what: we are uncovering them one by one, without giving them a break.”
“Most of the time, what is positive for society is detrimental for politics and vice versa. That is the nature of the caste model. They need society to do badly in order for them to do well.”
“When King Louis XV of France squandered the wealth of the kingdom on his personal pleasures, he used to say a phrase: “After us, the deluge.” In other words, the caste doesn’t care about the future; they don’t care about how the coming generations will get by.”
“A year ago, they said we would not make it to January. Today we are already in December.”
“They needed us to not move fast and not uncover their ‘curros’ (colloquial term from Argentina: scam, rip-off, dishonest activity), but guess what: we are uncovering them one by one, without giving them a break.”
“Most of the time, what is positive for society is detrimental for politics and vice versa. That is the nature of the caste model. They need society to do badly in order for them to do well.”
“When King Louis XV of France squandered the wealth of the kingdom on his personal pleasures, he used to say a phrase: “After us, the deluge.” In other words, the caste doesn’t care about the future; they don’t care about how the coming generations will get by.”
10) “THE TIME OF THE COMMON MAN HAS COME”
“Those privileged by the omnipresent State, who became more and more over time, became stakeholders and advocates for nothing to change.”
“This explains why journalists, unions, social organizations, and politicians of all colors, who until recently were enemies with each other, have united in defense of the status quo as if they belonged to the same party: the party of the State.”
“They call their privileges ‘acquired rights’, almost as if they were a kind of nobility with a divine right to live at the expense of society.”
“Well, we came to dismantle that system at its roots. We came to put an end to the regime of privileges that turned good Argentines into second-class citizens.”
“The time of the common man has come.”
“Those privileged by the omnipresent State, who became more and more over time, became stakeholders and advocates for nothing to change.”
“This explains why journalists, unions, social organizations, and politicians of all colors, who until recently were enemies with each other, have united in defense of the status quo as if they belonged to the same party: the party of the State.”
“They call their privileges ‘acquired rights’, almost as if they were a kind of nobility with a divine right to live at the expense of society.”
“Well, we came to dismantle that system at its roots. We came to put an end to the regime of privileges that turned good Argentines into second-class citizens.”
“The time of the common man has come.”
11) “WE RAN THE CHAINSAW ON PUBLIC SPENDING.”
“We ran the chainsaw on public spending:
We put an end to media advertising, which in 2023 alone had amounted to over 100 billion pesos at current value.
We reduced the number of ministries from 18 to 8, eliminated almost 100 secretariats and sub-secretariats, and closed over 200 areas that had duplicated or obsolete functions.
We froze the salaries of high-ranking officials from January to date.
We closed TELAM (government-ran national news agency), which functioned as a Kirchnerist (previous government) propaganda agency, and this year alone projected a loss of 20 billion pesos.
We fired 34,000 public employees and we are taking suitability exams for the rest.”
“We also eliminated hereditary positions in the State, which took us back to colonial times of noble privileges.
We closed down the INADI (former government agency focused on discrimination, xenophobia, and racism) and the Ministry of Women, which were militant hangers-on and were used to persecute political opponents.
We put an end to the privileges of the union caste in public companies such as Aerolíneas (national airline) and Intercargo (national ramp operation services for airlines) and, although they still want to extort us, we will not give up.”
“We are making many public employees, who thought they were superior beings, understand that they are public servants, that they are there to provide a quality service to those who pay taxes.”
“We ran the chainsaw on public spending:
We put an end to media advertising, which in 2023 alone had amounted to over 100 billion pesos at current value.
We reduced the number of ministries from 18 to 8, eliminated almost 100 secretariats and sub-secretariats, and closed over 200 areas that had duplicated or obsolete functions.
We froze the salaries of high-ranking officials from January to date.
We closed TELAM (government-ran national news agency), which functioned as a Kirchnerist (previous government) propaganda agency, and this year alone projected a loss of 20 billion pesos.
We fired 34,000 public employees and we are taking suitability exams for the rest.”
“We also eliminated hereditary positions in the State, which took us back to colonial times of noble privileges.
We closed down the INADI (former government agency focused on discrimination, xenophobia, and racism) and the Ministry of Women, which were militant hangers-on and were used to persecute political opponents.
We put an end to the privileges of the union caste in public companies such as Aerolíneas (national airline) and Intercargo (national ramp operation services for airlines) and, although they still want to extort us, we will not give up.”
“We are making many public employees, who thought they were superior beings, understand that they are public servants, that they are there to provide a quality service to those who pay taxes.”
12) “THEY SAID WE DID NOT HAVE THE EXPERIENCE”
“Exactly one year ago, there was a great deal of skepticism in the public debate and in the media about whether our government could succeed.”
“At best, they said, we did not have the experience, the capacity, or the political power to accomplish our goals. At worst, that our government would not last three months.”
“Still, we managed to stabilize the economy and avoid the catastrophe we were heading for.”
“And with only 15% of the deputies and 10% of the senators, we made the biggest structural reform in Argentine history.”
“If we could do so much with everyone against us, imagine all that we can do with the wind at our backs. We could go twice as far, twice as fast.”
“Exactly one year ago, there was a great deal of skepticism in the public debate and in the media about whether our government could succeed.”
“At best, they said, we did not have the experience, the capacity, or the political power to accomplish our goals. At worst, that our government would not last three months.”
“Still, we managed to stabilize the economy and avoid the catastrophe we were heading for.”
“And with only 15% of the deputies and 10% of the senators, we made the biggest structural reform in Argentine history.”
“If we could do so much with everyone against us, imagine all that we can do with the wind at our backs. We could go twice as far, twice as fast.”
13) “A STRUCTURAL TAX REFORM THAT WILL REDUCE BY 90% THE AMOUNT OF NATIONAL TAXES”
“We are entering a year of low inflation and high economic growth.”
“The economy has entered a cyclical recovery that is pulling us out of the hole we were left in.”
“The savings made during this year, of 15 points of GDP, that politician were squandering, has been returned to the private sector, and that will generate an increase in investment and also consumption.”
“On the other hand, the lowering of the country risk and, consequently, of the interest rate, lowers the cost of capital and, therefore, will produce a direct increase in investment.”
“My team is finishing a structural tax reform that will reduce by 90% the amount of national taxes, and will give provinces back their tax autonomy, which they should never have lost.”
“Thus, next year we will see a real tax competition among Argentine provinces to see who attracts more investments.”
“We are entering a year of low inflation and high economic growth.”
“The economy has entered a cyclical recovery that is pulling us out of the hole we were left in.”
“The savings made during this year, of 15 points of GDP, that politician were squandering, has been returned to the private sector, and that will generate an increase in investment and also consumption.”
“On the other hand, the lowering of the country risk and, consequently, of the interest rate, lowers the cost of capital and, therefore, will produce a direct increase in investment.”
“My team is finishing a structural tax reform that will reduce by 90% the amount of national taxes, and will give provinces back their tax autonomy, which they should never have lost.”
“Thus, next year we will see a real tax competition among Argentine provinces to see who attracts more investments.”
14) “WITH US, THE CEPO WILL END NEXT YEAR AND FOREVER”
“The convergence of the parallel exchange rate to the official exchange rate, which we are seeing these days, and which has never happened before in the history of mankind, brings us a little closer, every day, to the definitive exit of the exchange rate ‘cepo’ (foreign exchange controls and limitations), an aberration that should never have happened and which, with us, is going to end next year and forever.”
“In order to advance in the process of closing the Central Bank that we have promised, and that will end inflation forever in Argentina, we have announced a currency competition scheme so that all Argentines can use the currency they want in their daily transactions.”
“The convergence of the parallel exchange rate to the official exchange rate, which we are seeing these days, and which has never happened before in the history of mankind, brings us a little closer, every day, to the definitive exit of the exchange rate ‘cepo’ (foreign exchange controls and limitations), an aberration that should never have happened and which, with us, is going to end next year and forever.”
“In order to advance in the process of closing the Central Bank that we have promised, and that will end inflation forever in Argentina, we have announced a currency competition scheme so that all Argentines can use the currency they want in their daily transactions.”
15) “ARGENTINA WILL STOP TURNING ITS BACK ON THE WORLD, AND WILL ONCE AGAIN BECOME A PROTAGONIST IN WORLD TRADE”
“As I announced at the Mercosur Summit, we are moving forward with a proposal to eliminate tariff barriers that hinder trade within the bloc, but we will also seek to reduce the common external tariff that makes life more expensive for all of us with no benefit in return.”
“Our ultimate goal in Mercosur is to increase the autonomy of the members of the organization vis-à-vis the rest of the world, so that each country can trade freely with whomever it wants, as it suits them.”
“In that line, our first aim will be to promote, during the next year, a free trade agreement with the United States.”
“Argentina will stop turning its back on the world, and will once again become a protagonist in world trade, because there is no prosperity without trade and no trade without freedom.”
“As I announced at the Mercosur Summit, we are moving forward with a proposal to eliminate tariff barriers that hinder trade within the bloc, but we will also seek to reduce the common external tariff that makes life more expensive for all of us with no benefit in return.”
“Our ultimate goal in Mercosur is to increase the autonomy of the members of the organization vis-à-vis the rest of the world, so that each country can trade freely with whomever it wants, as it suits them.”
“In that line, our first aim will be to promote, during the next year, a free trade agreement with the United States.”
“Argentina will stop turning its back on the world, and will once again become a protagonist in world trade, because there is no prosperity without trade and no trade without freedom.”
16) “INVESTMENTS ARE GOING TO WORK AS A STEROID INJECTION TO OUR ECONOMY, PUTTING US WHERE WE SHOULD HAVE BEEN MANY YEARS AGO”
“Thanks to the RIGI (incentive regime for large investments), we will have plenty of new players that never existed in our country.”
“Based on a logical fiscal framework made for investments of more than $200 million (RIGI), we already have requests for approval for investments of more than $11.8 billion, with announcements for billions more in sectors such as infrastructure, mining, steel, energy, automotive, technology, oil and gas.”
“The large investments incentive regimen (RIGI) will bring a business boom, generating new direct employment, and demand for goods and services from companies that already exist, besides creating thousands of indirect jobs while improving their productivity.”
“These investments are going to work as a steroid injection to our economy, putting us where we should have been many years ago.”
“Thanks to the RIGI (incentive regime for large investments), we will have plenty of new players that never existed in our country.”
“Based on a logical fiscal framework made for investments of more than $200 million (RIGI), we already have requests for approval for investments of more than $11.8 billion, with announcements for billions more in sectors such as infrastructure, mining, steel, energy, automotive, technology, oil and gas.”
“The large investments incentive regimen (RIGI) will bring a business boom, generating new direct employment, and demand for goods and services from companies that already exist, besides creating thousands of indirect jobs while improving their productivity.”
“These investments are going to work as a steroid injection to our economy, putting us where we should have been many years ago.”
17) “NOW COMES THE DEEP CHAINSAW”
“In terms of State reform, this year you already met the chainsaw, but it consisted mainly in reversing the excesses of the last Kirchnerist (previous government) years.”
“Now the deep chainsaw is coming, because what we have to undo are geological layers of unjustified State agencies and functions.”
“We have become accustomed to thinking of the national State as a nanny that has to take care of everything, from feeding to entertaining every citizen.”
“But when a State arrogates itself tasks that are not its responsibility, besides destroying the private sector, it ends up failing to fulfill its most basic obligations, such as ensuring public order or having a stable currency.”
“This will lead us to a smaller, more effective and cheaper State for all taxpayers.”
“We are going to continue eliminating agencies, secretariats, sub-secretariats, public companies and every State stratum that should not exist.”
“Because the smaller the State, the bigger the Liberty.”
“In terms of State reform, this year you already met the chainsaw, but it consisted mainly in reversing the excesses of the last Kirchnerist (previous government) years.”
“Now the deep chainsaw is coming, because what we have to undo are geological layers of unjustified State agencies and functions.”
“We have become accustomed to thinking of the national State as a nanny that has to take care of everything, from feeding to entertaining every citizen.”
“But when a State arrogates itself tasks that are not its responsibility, besides destroying the private sector, it ends up failing to fulfill its most basic obligations, such as ensuring public order or having a stable currency.”
“This will lead us to a smaller, more effective and cheaper State for all taxpayers.”
“We are going to continue eliminating agencies, secretariats, sub-secretariats, public companies and every State stratum that should not exist.”
“Because the smaller the State, the bigger the Liberty.”
18) “THE WORLD’S NEXT ARTIFICIAL INTELLIGENCE HUB”
“The deregulatory crusade of this government has put us on the world map.”
“In technological matters, this is opening up a future of enormous opportunities.”
“The turn to freedom and technological optimism that Argentina is taking contrasts with many developed countries, which are every day closer to being a regulatory hell.”
“We have plenty of energy, plenty of cold and inhospitable lands, and plenty of quality human resources. No wonder we are the country with the most technological unicorns per capita in the region.”
“Let no one be surprised if Argentina becomes the world’s next artificial intelligence hub.”
“The deregulatory crusade of this government has put us on the world map.”
“In technological matters, this is opening up a future of enormous opportunities.”
“The turn to freedom and technological optimism that Argentina is taking contrasts with many developed countries, which are every day closer to being a regulatory hell.”
“We have plenty of energy, plenty of cold and inhospitable lands, and plenty of quality human resources. No wonder we are the country with the most technological unicorns per capita in the region.”
“Let no one be surprised if Argentina becomes the world’s next artificial intelligence hub.”
19) “WE ARE GOING TO DESIGN AN ARGENTINE NUCLEAR ENERGY PLAN”
“The increase in energy demand from Artificial Intelligence is going to generate a worldwide resurgence of nuclear energy after decades of decline, and we will not be left behind.”
“We are going to design an Argentine nuclear plan that contemplates the construction of new reactors, as well as research into emerging small or modular reactor technologies, while maintaining the highest standards of safety and efficiency.”
“Dr. Reidel will present this plan in the next few days, and it will put us, once again, at the forefront of the field.”
“When the ideas of freedom prevailed in Argentina, we were spearheading the region in technology. In the year 1900, Argentina was the country with the largest railroad network in Latin America and the eleventh largest in the world.”
“The increase in energy demand from Artificial Intelligence is going to generate a worldwide resurgence of nuclear energy after decades of decline, and we will not be left behind.”
“We are going to design an Argentine nuclear plan that contemplates the construction of new reactors, as well as research into emerging small or modular reactor technologies, while maintaining the highest standards of safety and efficiency.”
“Dr. Reidel will present this plan in the next few days, and it will put us, once again, at the forefront of the field.”
“When the ideas of freedom prevailed in Argentina, we were spearheading the region in technology. In the year 1900, Argentina was the country with the largest railroad network in Latin America and the eleventh largest in the world.”
20) “THE PROSPEROUS AND THRIVING COUNTRY THAT OUR FOUNDING FATHERS DREAMED OF”
“To conclude, I hope that being able to see how much Argentina has changed in just one year will help us to fuel our hope, thinking about next year.”
“We still have a long way to go, but today, for the first time in decades, we have laid the foundations for this path to lead us to the prosperous and thriving country that our founding fathers dreamed of.”
“Where once there was anguish once, today stability and predictability reign.
Where we were abandoned to chaos and violence once, today order reigns.
Where we suffered from State oppression once, today freedom reigns again.
Where the privileges of a few once prevailed, today it’s equality before the law, for all, that reigns.”
“To conclude, I hope that being able to see how much Argentina has changed in just one year will help us to fuel our hope, thinking about next year.”
“We still have a long way to go, but today, for the first time in decades, we have laid the foundations for this path to lead us to the prosperous and thriving country that our founding fathers dreamed of.”
“Where once there was anguish once, today stability and predictability reign.
Where we were abandoned to chaos and violence once, today order reigns.
Where we suffered from State oppression once, today freedom reigns again.
Where the privileges of a few once prevailed, today it’s equality before the law, for all, that reigns.”
Bonus: “A WARNING TO THE REST OF THE POLITICIANS”
“I also want to extend a warning to the rest of the politicians.”
“You mistakenly believed that the election of this government was a capricious outburst of society in a moment of deep malaise.”
“Well, society showed you this year that its commitment to change was not a momentary whim, but an unwavering conviction, underpinned by the hope of rebuilding our nation.”
“Argentines do not, and will not, tolerate senseless and ill-intentioned obstructions to our reforms, and it will be a major act of naiveté not to learn from this past year.”
“Whether you like it or not, Argentina has emerged from the pit in which politicians sunk us, and today, for the first time in decades, the sun of hope is rising.”
“The country is heading towards a future of prosperity that, for many of you, is unimaginable. But nothing and no one will take that hope away from Argentines, because, unlike other moments in our history, where hope was based on mere empty words, we have brought results.”
“I also want to extend a warning to the rest of the politicians.”
“You mistakenly believed that the election of this government was a capricious outburst of society in a moment of deep malaise.”
“Well, society showed you this year that its commitment to change was not a momentary whim, but an unwavering conviction, underpinned by the hope of rebuilding our nation.”
“Argentines do not, and will not, tolerate senseless and ill-intentioned obstructions to our reforms, and it will be a major act of naiveté not to learn from this past year.”
“Whether you like it or not, Argentina has emerged from the pit in which politicians sunk us, and today, for the first time in decades, the sun of hope is rising.”
“The country is heading towards a future of prosperity that, for many of you, is unimaginable. But nothing and no one will take that hope away from Argentines, because, unlike other moments in our history, where hope was based on mere empty words, we have brought results.”
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