Argentina’s austerity kicks in across the country

Global Business

President Javier Milei’s economic plan is symbolized by the chainsaw, and it is being felt across Argentina’s economy. In March, Latin America’s third largest economy saw industrial production fall 21.2% inter-annually.

Milei’s economic plan is focused on the financial front, with Argentina’s fiscal situation as its main target and reducing inflation by correcting relative prices and adjusting tariffs.

Argentina released its latest economic activity figures on Wednesday – official figures show an 8% drop in economic activities year-on-year.

CGTN’s Joel Richards reports.