Javier Miley he ends his first year in government exceeding initial expectations, despite having taken office in a context of extreme vulnerability. With a critical economic outlook marked by uncontrolled inflation and a weak institutional base, the libertarian outsider faced an enormous challenge. However, its management has managed to consolidate itself on three fronts: the market, interaction with other state powers and society.
In the economic sphere, markets have been the main bastion. Confidence in the libertarian agenda, centered on the fiscal surplus, has produced tangible results: the currency gap has narrowed dramatically, bonds have shown an upward trend, the country risk decreased and the Central Bank began to accumulate reserves. while the economic recovery remains limited, falling inflation has provided respite to the manufacturing sector and market support, while volatile, remains solid for now.
At the same time, Milei managed to impose his legislative agenda despite having minimal parliamentary representation: thirty deputies and only seven senators. The passage of the Bases Law marked a key milestone in his reform program. Moreover, the Executive has frequently enough resorted tosecrets and vetoes to overcome congressional resistancethus ensuring the continuity of its policies. The Judiciary has also supported, directly or indirectly, his transformation platform.
For its part, the company continues to show surprising support for the president, despite the severe fiscal adjustment implemented. According to data from Argentina will take care of itIn December Milei’s approval reached 53%, up seven points compared to October. The general perception is that the economic crisis is the obligation of previous administrations, while Milei is seen as the leader who can take the country forward.The promise of a prosperous future after present sacrifice remains a powerful message to his support base.
In view of the election year, Milei must make a fundamental strategic decision: ally himself with Mauricio Macri’s PRO to counter Kirchnerism in Buenos Aires, or maintain the autonomy of La Libertad Avanza with the risk of fragmenting the right’s vote. While his bold style suggests he will choose to go it alone,the political landscape is always uncertain.
Meanwhile, the ruling party benefits from the weakening of peronism, mired in a crisis of leadership and credibility. With Cristina Fernández still as the central figurebut without the ability to articulate a new majority, the movement faces the challenge of renewing itselfas already happened in the 80s and early 2000s, to return to being a valid alternative to power. With market confidence, popular support, institutional control and a disoriented opposition, Milei closes this first year with reasons to celebrate and strategic challenges for the future.
by Facundo Nejamkis
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Javier Milei | Photo: CEDOC”/>
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