Javier Milei

And of course, we also provided an additional boost. So, let's say that this is related to the five adjustment points in the Treasury. Now, what happens? As we began to achieve fiscal balance and no longer needed to issue money to finance ourselves, and as we also met interest payments and some capital repayments, One of the things that happened is that the debt market began to be recreated.

So we were able to take debt out of the central bank and transfer it to the treasury, where it should have always been. And that meant an adjustment of approximately 10% of GDP. Everyone said this would be impossible and couldn't be fixed. Essentially, what we did was implement a fiscal adjustment at the central bank amounting to 10% of GDP.

So we were able to take debt out of the central bank and transfer it to the treasury, where it should have always been. And that meant an adjustment of approximately 10% of GDP. Everyone said this would be impossible and couldn't be fixed. Essentially, what we did was implement a fiscal adjustment at the central bank amounting to 10% of GDP.

So we were able to take debt out of the central bank and transfer it to the treasury, where it should have always been. And that meant an adjustment of approximately 10% of GDP. Everyone said this would be impossible and couldn't be fixed. Essentially, what we did was implement a fiscal adjustment at the central bank amounting to 10% of GDP.

So if you ask me, it's clear that we have not only made the biggest fiscal adjustment in the history of humanity because we made a fiscal adjustment of 15 points of the GDP, but also... Most of that went back to the people as less seniorage, as a lower inflation rate. It's true that we temporarily raised the country tax, but we lowered it in September.

So if you ask me, it's clear that we have not only made the biggest fiscal adjustment in the history of humanity because we made a fiscal adjustment of 15 points of the GDP, but also... Most of that went back to the people as less seniorage, as a lower inflation rate. It's true that we temporarily raised the country tax, but we lowered it in September.

So if you ask me, it's clear that we have not only made the biggest fiscal adjustment in the history of humanity because we made a fiscal adjustment of 15 points of the GDP, but also... Most of that went back to the people as less seniorage, as a lower inflation rate. It's true that we temporarily raised the country tax, but we lowered it in September.

And now in December, we're going to eliminate it. Today, for example, we also announced that in December, we are eliminating import taxes. In fact, in that regard, what you have... is that we return to the people 13.5 points of GDP because the real tax burden is the size of the state. So while back in December we were discussing hyperinflation, Today, we are discussing 30-year loans.

And now in December, we're going to eliminate it. Today, for example, we also announced that in December, we are eliminating import taxes. In fact, in that regard, what you have... is that we return to the people 13.5 points of GDP because the real tax burden is the size of the state. So while back in December we were discussing hyperinflation, Today, we are discussing 30-year loans.

And now in December, we're going to eliminate it. Today, for example, we also announced that in December, we are eliminating import taxes. In fact, in that regard, what you have... is that we return to the people 13.5 points of GDP because the real tax burden is the size of the state. So while back in December we were discussing hyperinflation, Today, we are discussing 30-year loans.

In other words, all those resources that the national government used to take are now back in the private sector. And that's what has allowed it to be very dynamic. And this has two very strong impacts. The first one is that if you look at wholesale inflation, it went down from 54% to 2%, so it went down by 27 times.

In other words, all those resources that the national government used to take are now back in the private sector. And that's what has allowed it to be very dynamic. And this has two very strong impacts. The first one is that if you look at wholesale inflation, it went down from 54% to 2%, so it went down by 27 times.

In other words, all those resources that the national government used to take are now back in the private sector. And that's what has allowed it to be very dynamic. And this has two very strong impacts. The first one is that if you look at wholesale inflation, it went down from 54% to 2%, so it went down by 27 times.

It was divided into 27, so we had inflation at a rate of 17,000% annually, and it's now close to about 28% a year. But it's not only that. You could consider consumer inflation. The latest consumer inflation rate was 2.7%.

It was divided into 27, so we had inflation at a rate of 17,000% annually, and it's now close to about 28% a year. But it's not only that. You could consider consumer inflation. The latest consumer inflation rate was 2.7%.

It was divided into 27, so we had inflation at a rate of 17,000% annually, and it's now close to about 28% a year. But it's not only that. You could consider consumer inflation. The latest consumer inflation rate was 2.7%.

Now, it happens that we essentially, due to a matter that is related to the central bank's balance sheets and also due to the debt stocks, we still have controls in place and we are eliminating restrictions day by day. Now, the interesting thing is that we have a 2% monthly devaluation standard and there's international inflation, of course,

Now, it happens that we essentially, due to a matter that is related to the central bank's balance sheets and also due to the debt stocks, we still have controls in place and we are eliminating restrictions day by day. Now, the interesting thing is that we have a 2% monthly devaluation standard and there's international inflation, of course,

Now, it happens that we essentially, due to a matter that is related to the central bank's balance sheets and also due to the debt stocks, we still have controls in place and we are eliminating restrictions day by day. Now, the interesting thing is that we have a 2% monthly devaluation standard and there's international inflation, of course,

which means that you then have to subtract 2.5 points from the inflation observed by the consumer. This indicates that inflation in Argentina, the true inflation, not the induced one, but the actual monetary inflation, is 0.2% per month. At 0.2% per month, this equates to 2.4% annually. What I'm saying is, the original discussion was about whether inflation could reach 17,000%.