According to the spokesperson for the Casa Rosada, Manuel Adorni, Caputo will offer details of actions “that will be in line with a strong tax cut with some expansion in social items.”

The package of measures will be accompanied by a removal of privileges, which Milei ordered to be carried out urgently. “We are immersed in a deep economic crisis, which is recurrent in Argentina, where from time to time we end up in a hyperinflationary or debt situation,” he added.

He also indicated that, during the first cabinet meeting, held on Monday, they discussed “the need for a general inventory, not only of physical resources, but also of the status of all national administration personnel.”

“We will review each of the contracts in order to find possible irregularities in each ministry and the contracts with the universities. We will demand 100 percent presence in the workplaces of the public administration,” he noted.

In his first speech as President, Milei pointed out that there will be stagflation (economic stagnation with increased unemployment and inflation) and a negative impact on the level of activity, employment, real wages, and the number of poor and indigents. Furthermore, he stated that “supreme efforts and painful sacrifices” will be required.

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