President Javier Milei speaks to business leaders on the occasion of the 125th anniversary of the Córdoba Stock Exchange
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President Javier Milei participated this Friday in the main event for the 125th anniversary of the Córdoba Stock Exchange, in a context marked by currency tensions and his government's recent legislative defeats. Accompanied by the Secretary General of the Presidency, Karina Milei, the Minister of Security, Patricia Bullrich, the Speaker of the Chamber of Deputies, Martín Menem, and the presidential spokesperson, Manuel Adorni, the head of state led a presentation before business leadersin which he defended his economic program and reaffirmed the need to accelerate structural transformations.
The visit to Córdoba, a district governed by Martín Llaryora, also marked the formal launch of La Libertad Avanza's electoral campaign ahead of the legislative elections on October 26. In the afternoon, Milei will join a party event on Poeta Lugones and Armando Roldán avenues, under the slogan"La Libertad Avanza or Argentina falls behind", in support of Gonzalo Roca, the first candidate for national deputy for the party.
In his speech at the Stock Exchange, the President began with a reference to the confrontation with the political establishment: "Clearly, trying to overcome the status quo is not easy. Change processes always generate resistance from the status quo, and the stronger those changes are, the greater the resistance. These are decades of accumulating wrong ideas". Along those lines, he emphasized that "these are decades and decades of ideas going in the opposite direction".
Milei described the starting point of his administration and stressed that "Argentina's crises have truly obscene levels of fiscal deficit". He also alluded to the electoral situation in Buenos Aires Province and the political climate leading up to October: "Political panic is spiraling in the market". He launched direct criticismat former governor Juan Schiaretti: "I would ask former governor Schiaretti if he is thinking of raising VAT to 42% to fund that spending madness".
Karina Milei, Martín Menem y Manuel Adorni.
In defense of his economic policy, the President stated:"When we arrived, we inherited the worst legacy in history. The moment when the economy hit bottom was in April 2024, but from then on it began to expand". He maintained that the government proved that "an adjustment could be made and that it could also be expansionary. As long as it was done in the parasitic sector, which is the State".
He also asserted that the path taken is already showing results: "This entire process was accompanied by 9,000 structural reforms. And we have consumption levels at historic highs". He added: "Not only did we not multiply poverty, but we lowered all the indicators. We lifted 12 million Argentines out of poverty".
The head of state acknowledged that challenges still remain: "Not only did we balance the country's accounts, but we lifted people out of poverty. But by no means have the problems ended. We know that having 30% of people in poverty is extremely painful. It's like being halfway there. But we must not give up, we have to keep moving forward".
In the political sphere, he questioned the opposition: "They tell me I do not listen. What do they want me to listen to? The same recipes as always, which have already failed?". He called for staying the course: "We have to keep pushing, because on the other side lies the path to prosperity".
In macroeconomic matters, he highlighted price stability despite currency volatility: "We have experienced a lot of volatility in the exchange rate, and yet inflation remains around 1.5% and 2%". He also defended the fiscal balance achieved: "Only 5 countries out of the 200 in the world have fiscal balance, and we are one of them". He concluded that "All the panic that exists is political".
“Me dicen que no escucho. ¿Qué quieren que escuche? ¿Las recetas de siempre, que ya fracasaron?”..
The President also devoted part of his presentation to supporting Minister Bullrich:"She is a true patriot". He highlighted her support during the runoff and in the administration, while warning: "We have already seen those on the other side, the outlaws who are back. We have to defeat populism". Along those lines, he recalled achievements in public order: "When we arrived, we set out to put an end to the poverty managers. There were 9,000 roadblocks per year, and we brought them down to zero. Without order, there is no progress either".
With the electoral campaign approaching, Milei asked society to support the government's project: "They want to destroy everything because they know they are losing. But we are not going to give up. We came to make Argentina great again, and we are not going to stop under any circumstances". In the same vein, he added: "We have to become aware of the monster in front of us, and society will reflect, and this October 26 the country will turn violet".
Regarding pending reforms, the President confirmed that he will move forward more deeply: "In terms of deregulation, we are going to keep going to the bone, because that will benefit Argentines". He announced that "labor reform, tax reform, and a lot of economic deregulation are coming". He blamed the opposition for blocking the changes: "Those who are torpedoing now are the same ones who overthrew De la Rúa. They will not be able to stop change".
The message in Córdoba combined a management review, economic diagnosis, and political projection. Milei sought to consolidate business support and, at the same time, activate the campaign for legislative elections that are expected to be decisive for the future of his reform program.
