New president Javier Milei has ordered the minimum wage to be increased by 30 percent. The previous government had tried to contain this massive inflation in the country with artificial price limits.
Milei, in office since December, devalued the local currency, the peso, by 50 percent and cut subsidies for public transport and energy. Thousands of public sector jobs should be cut and dozens of public companies should be privatized, says Milei. But the plans of the right-wing populist Milei have been canceled by parliament.