Argentina's Minister of Economy, Luis "Toto" Caputo, celebrated a significant milestone in the economic management of Javier Milei's Government through a tweet posted on his X account.
According to the shared chart, which uses data from the Observatory of Employment and Business Dynamics (OEDE) and INDEC, the average real salary of registered private workers reached the highest level since August 2018.
This achievement, highlighted by Caputo, reflects the positive impact of the implemented economic program and the recovery achieved by Milei's Government, which took power in December 2023 with the promise to end decades of decline.
El gráfico compartido por Caputo.
During Kirchnerism, the policies of uncontrolled public spending and enormous monetary issuance caused high inflation that destroyed the real income of Argentine workers, leaving a bleak outlook at the end of 2023.
However, the arrival of President Milei marked a turning point. Although in the first months of his administration the real salary continued to fall, due to the severe economic crisis inherited from Kirchnerism, from the second quarter of 2024 a strong sustained recovery is observed.
Inflation, which had been one of the main problems of the Argentine economy, began to ease thanks to the fiscal and monetary adjustment measures implemented by Milei, allowing salaries to regain ground against the cost of living.
Javier Milei y Luis Caputo.
This achievement not only boosted the purchasing power of workers but also had a direct impact on poverty reduction. According to the recent INDEC report, the poverty rate dropped to 38.1% in the second half of 2024, a huge improvement compared to the 52% previously recorded due to the previous government, evidencing the positive impact of the increase in real salary.
The success of Milei's Government's economic program, based on reducing public spending and fiscal balance, achieved that the registered private real salary not only recovered but reached the highest level since August 2018, marking a promising future for the Argentine economy.
