News of government spending

Midterm elections set limit on Milei’s search for spending cuts

10-01-2025 13:26 Spending cuts in 2024 reached some five percent of Argentina's GDP. Is there room to repeat this feat?

Yáñez gives up state security detail amid NYE dinner furore

05-01-2025 10:26 Former first lady Fabiola Yáñez renounces state security detail that was strengthened in wake of her gender violence allegations against ex-president Alberto Fernández; Milei and Bullrich had criticised her use of proection officers, revealing it had cost state at least US$147,000 since last August.

ECONOMIC POLICY

Milei confirms his ‘chainsaw’ will keep running next year

27-11-2024 15:52 “Full speed ahead,” says Argentina's president, vowing that public spending cuts will continue into 2025.

POLITICS – ANALYSIS

Foreign Ministry set to meet chainsaw after Mondino's failure to cut costs

05-11-2024 10:32 The now former foreign minister not only displeased President Milei, she also failed to cut costs. Mondino’s lack of budget-slashing means La Libertad Avanza’s chainsaw will now descend on the Palacio San Martín.

by Juan Pablo Kavanagh

education funding row

Congress opens session on Milei's veto of university funding bill

09-10-2024 12:32 Argentina's lower house Chamber of Deputies will on Wednesday decide if President Javier Milei's veto of a law allowing greater funding to state universities will be upheld.

SCIENCE & TECHNOLOGY

Scientists fear underfunded research on verge of collapse

01-10-2024 11:13 Drastic budget cuts by President Javier Milei's government are damaging scientific research, with the lack of state funding opening the door to a potential exodus of researchers.

POLITICS & ECONOMY

Privatisations, relaunches and retirements – Milei’s plan for state media

26-08-2024 19:14 President Javier Milei has managed to shutter the Télam news agency and is attempting to downsize and sell off a host of Argentina’s state media outlets – but are his plans working? And what is the “relaunch” his administration is planning?

by Julian D'Imperio

EDUCATION

Teaching staff at public universities stage 48-hour strike

20-08-2024 12:06 Strike at state universities gets underway with no classes scheduled for Tuesday and Wednesday; Unions claim the government's wage renegotiation proposal is insufficient as Milei administration looks to cut costs.

ECONOMIC INDICATORS

Social indicators cast doubt over Milei's 'catastrophe' averted claim

04-07-2024 13:09 President Javier Milei recently stated that the government’s social policy is “extremely good” and it had help prevent a “catastrophe.” Yet the government's own data and reports produced by private institutions indicate most social indicators have recorded a step backwards since he took office.

by Agustina Bordigoni

JUSTICE SYSTEM & PRISONS

Milei slashes budget for legal centres in favour of prison spending

29-06-2024 04:25 Argentina’s Justice Ministry announces closure of 81 Centres of Access to Justice nationwide; Milei government boosts budget for the ‘Criminal Policy’ programme by 963% in move to “modernise Penitentiary Service” and “improve the situation of persons deprived of liberty."

by Agustina Bordigoni

FILM & CINEMA

National cinema raises its voice at Cannes against Milei’s cutbacks

22-05-2024 15:26 Creators of award-winning Argentine productions use their international platform at prestigious French film festival to vocalise anger at industry cutbacks and Milei government’s austerity measures.

Marcha Federal Universitaria

Massive crowds march against Milei’s cuts to state universities

23-04-2024 21:08 Large crowds turn out nationwide for march in defence of universities and state education; One of biggest rallies yet of President Javier Milei's government, with estimates ranging from 100,000 to half a million.

CULTURE

Like a bad movie: Argentina's culture industry suffers under Milei

20-04-2024 07:39 President Javier Milei's 'chainsaw' cutbacks are threatening Argentina's Oscar-winning film scene, publishing industry and music industry.

POLITICS & ECONOMY

Kicillof announces wage increase for state workers

18-03-2024 15:11 Salaries of state teachers, police officers and public employees will rise by 13.5% this month, orders Buenos Aires Province Axel Kicillof, in defiance of President Javeir Milei’s cost-cutting plans.

EDUCATION

Universities challenged: Chancellors warn Milei government money will only last until May

14-03-2024 11:44 President Javier Milei’s government is in the grip of a battle with universities over the education budget in 2024. Amid growing complaints, chancellors despair at condemnation from Casa Rosada and Presidential Spokesman Manuel Adorni.

by Giselle Leclercq

SCIENCE & TECHNOLOGY

Nobel laureates warn budget cuts are 'cancelling' research

06-03-2024 22:31 Sixty-eight Nobel laureates urge President Javier Milei to restore budgets for science and technology that have been cut under his drive to slash public spending.

LABOUR TENSIONS

Strikes pile up amid sting of Milei’s shock therapy

21-02-2024 16:03 Rail service, healthcare and schools all face disruption; Unions pushing back against government austerity measures.

IMF DEBT PROGRAMME

IMF authorises US$4.7 billion loan tranche, says Milei will remove currency controls

01-02-2024 18:25 International Monetary Fund signs off on fresh loan disbursement and reveals Argentina will lift currency controls this year – though it warns political and social unrest may lie ahead.

POLITICS & ECONOMY

Chainsaw Plan Round 2: Government looks to deepen austerity

14-01-2024 10:19 Economy Minister Luis Caputo assures that there has been no fiscal shock so far in Argentina and that there is still room for further tightening. If President Javier Milei’s ‘Omnibus law’ does not pass through Congress, cutbacks will continue for state personnel, with cuts in overtime, the freezing of salaries, and the non-renewal of expiring contracts.

by Juan Pablo Kavanagh

BLOOMBERG – FEATURE

Argentina’s ruined railways will force Milei to confront poverty

21-12-2023 00:29 Those living off state subsidies in ghost towns abandoned by the once-robust train service fear the pain of the new president’s spending cuts will be acute.

EMERGENCY MEASURES

Milei devalues peso by 54% in first batch of shock measures

12-12-2023 19:46 Economy Minister Luis Caputo devalues peso by 54% and announces a swathe of spending cuts President Javier Milei’s shock-therapy programme gets underway.