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

In a bid to reduce the size of the government apparatus, Argentine President Javier Miley has announced plans to cut 70,000 civil servant pay in the coming months. The move comes as part of an effort to undo the damage from decades of decline and tackle inflation, which has soared to 140%. The news was reported by Bloomberg.

To emphasize his seriousness about reducing the public sector before elections, Miley appeared at rallies with a chainsaw, leading media to label his approach as “chainsaw economics.” He is often compared to former U.S. President Donald Trump and Brazilian President Jair Bolsonaro for their similar economic policies.

During his inauguration ceremony in December 2023, Miley delivered a keynote address that emphasized the need for significant spending cuts due to lack of funds. He also promised to reduce public debt and tackle inflation, which he sees as necessary steps towards undoing the damage from decades of decline. This marks a significant shift in economic policy under his leadership.

By Samantha Jones

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